FX.co ★ Trading plan for the EUR/USD pair on December 16. Global COVID-19 incidence increased again.

Global COVID-19 incidence has increased again, but the figure is still below the recorded peak. In the United States, the number of new infections is again around 200,000 a day.

Tougher measures were also introduced in Germany today because of the increased infections. But in other parts of Europe, the situation is relatively good - the number of new patients are well below the peak.

Going back to the US, vaccinations are in full swing, but the effect should not be expected until mid-January.

EUR / USD- the euro is trading in a narrow range ahead of the Fed meeting today.

During the meeting, the Fed will discuss new economic forecasts, as well as reports on employment and inflation.

Open long positions from 1.2175.

Open short positions from 1.2115.

In long positions, place stop loss at 1.2115.