Euro is trading sideways ahead of the Fed conference today.

But there is no doubt that the central bank will keep its monetary policy unchanged, so interest rates will remain at 0.25%.

The most important thing though is the tone of the Fed's statement, especially since it is facing a tough challenge: the central bank should assure the people that its super-soft policy has made significant progress in the economy, and convince them that this should continue for quite a long time.

Open long positions from 1.1920 to 1.1865, or from 1.1990.

Open short positions at 1.1830.

COVID-19 incidents grew again in Europe. Now, France has 30,000 new cases per day, while Italy has 20,000.

Fortunately in Italy, the pace of vaccination has accelerated, thanks to the efforts of the new prime minister Mario Draghi. Approximately 17 million people have been vaccinated, but there is no decisive victory over the virus yet.