FxPro Financial Services Ltd | Nov 16, 2020 08:48AM ET
The financial markets this week start with a new wave of optimism and buying of risk assets. Many Asian indices have updated record levels this morning, while MSCI AC Asia Pacific x JP is adding 1%. At the same time, the Nikkei 225 settled at 29-year highs. Futures on the S&P 500 and NASDAQ added 0.6% and 1%, respectively.
Short-term uncertainty also surrounds EUR/USD, which earlier today rose to 1.1855. A new test at 1.1900 and confidently overcoming this level could be the start of a large weakening rally for the dollar with a potential of 1.2300. The new reversal will finally confirm the bulls' weakness, once again focusing on the potential for a decline to 1.1600.
The FxPro Analyst Team
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