FX.co ★ EUR/USD analysis for 05.12.2020 - The strong rally began as we expected. More upside potential towrads the levels at 1.0875 and 1.0915

Corona virus summary:

World Health Organization

"We do have some treatments that seem to be, in very early studies, limiting the severity or the length of the illness, but we do not have anything that can kill or stop the virus," spokeswoman Margaret Harris told a virtual briefing, referring to the body's "solidarity trial" of drugs against the disease.

"We do have potentially positive data coming out but we need to see more data to be 100% confident that we can say this treatment over that one," she added.

Technical analysis:

EUR/USD has been trading upwards as we expected.The price tested the level of 1,0845. Anyway, in my opinion, this is only the begining of the bigger rise towards the levels at 1,0875 and 1,0915.

Trading recommendation: