Please disable Ad Blocker before you can visit the website !!!


by SignalFactory   ·  December 3, 2020 | 11:49:40 UTC  


by SignalFactory   ·  December 3, 2020 | 11:49:40 UTC  

Following an intraday dip to the 1.2040 region, the EUR/USD pair managed to regain traction and built on the previous day’s strong positive move. The first approval of a COVID-19 vaccine continued undermining the safe-haven US dollar, which was further pressured by the possibility of more US fiscal stimulus measures. This, in turn, was seen as one of the key factors that pushed the pair beyond the 1.2100 mark for the first time since April 2018.

The UK on Wednesday became the first country to approve a vaccine jointly developed by Pfizer and BioNTech and said that it would start inoculation of those most as risk early next week. Adding to this, investors remained optimistic that the US Congress will reach an agreement on fresh relief for a pandemic-hit US economy ahead of the December 11 deadline to pass a $1.4 trillion budget or risk a government shutdown.

The USD failed to gain any respite and remained depressed following the release of ADP report, which showed that private-sector employers added 307K jobs in November as against 410K anticipated. On the other hand, the shared currency got an additional boost from better-than-expected German Retail Sales figures and seemed rather unaffected by expectations that the European Central Bank will enhance its quantitative easing program next week.

Nevertheless, the pair ended near the top end of its daily trading range and edged higher for the third consecutive session on Thursday. The uptick marked the fourth day of a positive move in the previous five and pushed the pair to fresh 32-month tops during the Asian session. Market participants now look forward to the final version of the Eurozone Services PMI prints and the US economic releases – Initial Jobless Claims and ISM Non-Manufacturing PMI – for a fresh impetus.

The data, along with the broader market risk sentiment, will influence the USD price dynamics and produce some short-term trading opportunities during the early North American session. The key focus, however, will remain on Friday’s release of the closely watched US monthly jobs report – popularly known as NFP.

EUR/USD Long (Buy)
ENTER AT: 1.21210
T.P: 1.21380
S.L: 1.20960

All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user. This website and all information is intended for educational purposes only and does not give financial advice. Signal Factory is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities. Signal Factory does not offer, operate or provide financial, brokerage, commercial or investment services and is not a financial advisor. Rather, Signal Factory is an educational site and a platform for exchanging Forex information. Whenever information is disclosed, whether express or implied, about profit or revenue, it is not a guarantee. No method or trading system ensures that it will generate a profit, so always remember that trade can lead to a loss. Trading responsibility, whether resulting in profits or losses, is yours and you must agree not to hold Signal Factory or other information providers that are responsible in any way whatsoever. The use of the system means that the user accepts Disclaimer and Terms of Use. Signal Factory is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered. While Signal Factory believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Factory does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Factory to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all. All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Factory assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Factory are not responsible for your trading in any way. The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Factory assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a merchant account or use the services, free of charge or paid, to any of the Forex companies mentioned on this website, bears full responsibility for their actions. Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company. Forex trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against merchants. Before each Forex investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results. Neither Signal Factory nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.

Signal Factory is now on Telegram

make sure to join our Telegram channel now and you will not miss any update