Trading plan for EUR/USD on February 22. Dollar to weaken amid rising bond yields.

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COVID-19 incidence has declined very significantly. In fact, the number of new cases is now 2-2.5 times lower than the highs, with the most significant progress in the US, UK, and Europe.

Meanwhile, vaccination is still slow around the world, except in the United States and Britain. Hence, it can be said that the decline in cases is a result of seasonal factors as well as sanitary measures.

But for Israel, Pfizer's vaccine has proven to be successful. Because of this, the infection rate has dropped by about 89%.

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EUR/USD - Euro may trade upwards soon.

Open longs after a break above 1.2145, then place stop loss at 1.2080.

Rising government yields in the US may force the Fed to raise its monetary policy, which will accordingly lead in the drop of the dollar.

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