Coronavirus retreats. Optimism concerning euro rises. Outlook for EUR/USD on February 20, 2021

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The coronavirus statistical data is fixed at the levels that are two times below the record highs.

Thus, the global number of confirmed virus cases is 400 thousand a day. In particular, in the US the daily rise totals 80 thousand.

Death toll is approximately 2% from the number of infected people.

Importantly, a lower number of new cases leads to higher quality of patient care and treatment.

Vaccination programs: COVID-19 vaccine rollout is rather slow. The situation is a bit better in the US. About 14% of citizens are already vaccinated.

In Russia, the vaccine rollout is very slow. Even in Moscow, where the local authorities are actively stimulating the vaccination program, only 10% have received their doses. In general, in Russia, only 3% of people are vaccinated.

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EUR/USD chart at the end of the trading week

The euro is likely to go on gaining in value. There is a new level to open buy positions.

Buy positions could be opened from 1.2170 with Stop Loss – at 1.2080.

The material has been provided by InstaForex Company - www.instaforex.com

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