Latest report shows that another pandemic wave is emerging. As we can see on the chart, the one that is most at risk is Europe, having recorded a 40% growth in daily incidents. In fact, right at this moment, 6 of its member states are topping the list for heavily infected countries.

The pace of vaccinations also remains slow, and poor weather conditions are escalating the situation.

Euro traded downwards because of this news.

EUR/USD: Euro pulled back and is now trading near its earlier price levels.

That being said, continue placing long positions from 1.1920 to 1.1880 and expect a downward reversal from there.