DAX Jumps To Almost 13300 on Covid-19 Vaccine Hopes

Dear traders,

Stocks surged amid Covid-19 vaccine developments that fueled optimism that the world will soon have a potential way out of the pandemic. However, questions about safety and efficacy of the shot remain while it is still too early.

The DAX jumped to the highest level in almost two months, reversing shy of 13300. Our profit target appeared to be small, compared to the fact that yesterday’s bullish move turned out to be a more than 400-points-jump.

The euro hit 1.1920 before price reversed. In short-term time frames we now expect further losses in the EUR/USD.

The cable failed to find a clear direction and traded between 1.3210 and 1.3115.


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