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Optimism about promising vaccine trials

Optimism about promising vaccine trials | 02 December 2020

02 December 2020, EUR/USD

Optimism about promising vaccine trials

EURUSD trading plan:

Optimism about promising vaccine trials has driven the buying of riskier currencies at the expense of the greenback. This has continued after biotech Moderna requested clearance for its coronavirus vaccine in both the U.S. and Europe on Monday, after late-stage trial results showed the vaccine was highly effective in preventing Covid-19, with no serious safety problems. The Dollar Index fell 0.8% to hit a one-week low of 91.7. U.S. President-elect Joe Biden urged lawmakers to pass a coronavirus aid package that has been stalled in Congress for months, and promised more action to reactivate the economy after he takes office next month.

Investment idea: Buy 1.2060 and take profit 1.2100.

David Johnson
Analyst of «FreshForex» company
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