Trade Idea (2020-12-02) EURUSD recovered 1.20

Trade Idea

Good morning.

Yesterday’s US stocks rebounded. The December market price started in advance of buying. The Dow Jones Industrial Average rose by more than $ 400 at one point and recovered to $ 30,000, but in the second half it was sluggish and ended below $ 30,000. Expectations for vaccine development are supporting the market, and it is reported that Pfizer and Biontech of Germany applied for approval from EU authorities for the company’s vaccine candidate yesterday, and it is expected to be approved by the end of the year. IT and high-tech stocks also performed steadily.

In the foreign exchange market, in the risk-on mood, especially EUR, have recovered from the repeatedly bounced 1.20 level. Involving the stop loss, it has risen to the middle of 1.20 and finished.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday (last Friday)

DJIA: 29,823.92 (+185.28, +0.63%)
NASDAQ: 12,355.11 (+156.37, +1.28%)
S&P 500: 3,662.45 (+40.82, +1.13%)
GOLD: 1,816.1 (-2.8)
OIL: 44.18 (-0.37)
US 10-YR: 0.916 (-0.018)
VIX: 20.77 (+0.2)

Asian market today

Nikkei: 26,762 (-25)
CME Dow future: 29,626~(-197 Dow)

Economic indicators in this week

13: 15 (US) ADP Employment Statistics