Trading plan for EUR/USD on March 16. Euro rally halted after the Fed meeting yesterday.

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COVID-19 incidents finally declined in Europe. After tightening the quarantine measures, daily cases in France and Italy dropped noticeably.

But with regards to vaccination, aside from the pace being slow, many EU countries stopped using AstraZeneca's vaccine due to its side effects and low efficacy.

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EUR/USD: Euro stopped rallying after the Fed meeting yesterday. This is because the US central bank decided to keep its current monetary policy unchanged as was expected.

Now, EUR/USD is trading around the lower border of the local range, and is likely to continue its earlier downward movement.

Open long positions from 1.1920 to 1.1865.

But if you are more inclined towards the dollar, open short positions at 1.1910, or from 1.1830.

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

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