Trading plan for EUR/USD on February 16. The coronavirus is retreating.

analytics602b544d1b4da.jpg

COVID-19 incidence continues to drop. Clearly, this means that the second pandemic wave is ending, and that soon, the world will successfully emerge from this crisis.

Now, global rate is 262,000, and 50,000 of it is from the United States.

With regards to vaccination, countries are slowly catching up. The US has vaccinated more than 15% of its population, while the UK has vaccinated approximately 22%.

As for the EU, no more than 5% of the population are vaccinated.

Globally, 2.5% are vaccinated.

Unfortunately, the recession in the US is exacerbated by the long weekend.

analytics602b5540800c7.jpg

EUR/USD, H4 chart.

Euro is consolidating below the highs. A breakout is expected soon.

Open long positions from 1.2060.

In case of a reversal, open short positions from 1.2080.

Longs may also be opened after a break above 1.2155.

The US will publish latest data on retail sales, as well as Fed Minutes tomorrow. These may influence market dynamics and sentiment.

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