For Traders

Analytical Reviews

Trading plan

08.02.202109:36 Forex Analysis & Reviews: Trading plan for EUR/USD on February 8. End of COVID-19, upcoming consolidation in the euro.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Signs are clearly pointing to the end of COVID-19, or at least its second wave. Global incidence has already dropped to 345,000, which is two times less than the recorded peak. The largest decline was in the United States, as it listed new cases three times lower than its peak.

With regards to vaccination, pace is still slow since there is still a huge shortage of vaccine supply. In that regard, Germany promised to increase production this February.

EUR/USD - euro might consolidate soon. As a matter of fact, the pair already traded upwards this morning, reaching a new high in the market. This level may become a new key level soon.

Set up short positions from 1.2055 to 1.2100

There is no major news expected this week.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.