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Corona virus summary:

Exchange Rates 29.06.2020 analysis

China's military has approved a coronavirus vaccine for use within its ranks that has been developed by its research unit and a biotech firm.

More than half of 17 candidate vaccines identified by the World Health Organization that are in clinical evaluation involve Chinese companies or institutes.

Hong Kong-listed CanSino Biologics said in a filing to the stock exchange that data from clinical trials showed the Chinese military vaccine had a "good safety profile" and potential to prevent disease caused by the coronavirus.

Technical analysis:

EUR/USD has been trading upwards as I expected. The price reached our second target from Friday at the price of 1,1280. Anyway, I still see potential for the upside continuation and rally towards the 1,1325 and 1,1350.

Trading recommendation:

Watch for buying opportunities on the dips due to strong upward trend and breakout of the 2-day balance to the uspide.

Upward targets are set at the price of 1,1325 and 1,1350.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2020
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