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30.11.2020 02:46 PM
EUR/USD analysis for November 30 2020 - Bearish divergence on the Stochastic oscillator and potential for downside rotation towards 1.1960
Moderna set to file for US, EU clearance for its coronavirus vaccine
  • Vaccine was 100% effective against severe virus cases in trial
  • No new serious safety concerns identified since 16 November trial
  • To apply for US emergency-use authorisation today
  • To apply for EU conditional approval today
  • Expects FDA advisory meeting on 17 December

Another Monday, another dose of vaccine optimism to hit the market. Moderna stocks itself are up 10% in pre-market upon the announcement above but the overall jump in risk trades is more measured, all things considered compared to previous vaccine news.

Further Development

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Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today and the downside roattion would be probably to correct strong upside movement from recent few days.

1-Day relative strength performance Finviz

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Based on the graph above I found that on the top of the list we got Cooper and Natural Gas today and on the bottom Silver and Gasoline RBOB.

EUR/USD is slightly positive on the list but with overbought condition...

Key Levels:

Resistance: 1,1990

Support levels: 1,1960 and 1,1940

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