Trade Idea (2020-12-10) EUR and GBP selling by deal uncertainty

Contents

Trade Idea
Market Environment

Trade Idea

Good morning.

Yesterday’s US stocks were profit-taking sales centered on IT and high-tech stocks. The Dow Jones Industrial Average was -0.35%, while the S & P 500 was -0.79%, with the Nasdaq particularly down sharply, with the Nasdaq Composite at -1.94%. Expectations for vaccines have raised expectations for an economic recovery next year, but talks between the ruling and opposition parties on US economic measures are still difficult, and there is no sign of convergence in the recent spread of infection in the United States.

In the foreign exchange market, it was reported that EU leaders would not approve this week over the dollar buyback due to the fall in US stocks and the UK’s exit from the EU, and the European currency were sold and dollar was bought.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

currency-strength.com

US market yesterday (last Friday)

DJIA: 30,068.81 (-105.07, -0.35%)
S&P 500: 3,672.82 (-29.43, -0.79%)
NASDAQ Composite: 12,338.95 (-243.82, -1.94%)
NASDAQ 100: 12,364.64(-271.08, -2.15%)
GOLD: 1,840.8 (+2.3)
OIL: 45.65 (+0.13)
US 10-YR: 0.925 (-0.016)
VIX: 22.27 (+1.59)