Trading plan for EUR/USD on September 16

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COVID-19 update: It seems that the pandemic has now receded in United States and Brazil, having recorded an infection rate below 40 thousand a day.

Unfortunately, the same can not be said in India, as its situation regarding the virus remains grave, reporting an incidence rate at a peak of more than 90 thousand new cases a day. As soon as it declines though, the overall (global) statistics will decrease as well.

Meanwhile, in the West and Southern Europe, another surge has risen, so Israel has resorted to introducing another quarantine for about two weeks. Will this cause another negative effect on the EU economy? Perhaps not, as long as there is no complete closure in the economy, and the governments implement strict mask regime and social distancing measures.

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EUR / USD – price consolidated ahead of the important Fed meeting.

Today, the Federal Reserve will announce its decision regarding interest rates, as well as report latest forecasts for the US economy.

Open long positions from 1.1920; or

Open short positions from 1.1750.

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