For Traders

Analytical Reviews

Trading plan

05.12.201909:02 Forex Analysis & Reviews: Trading plan for EURUSD on 12/05/2019. Weak data on the US and the euro.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

On Wednesday, important US data were released.

The employment report from ADP showed fewer jobs in November than forecast - 67k-100K less than forecast. This creates a real chance that nonfarm will come out very weak tomorrow, December 5th.

Further, the ISM services sector index came out noticeably worse than forecast and the previous value at 53 - with a forecast of 56 - this is still growth - but with a clear slowdown in growth.

Thus, there are more signs of a slowdown in the US economy - this creates the possibility of a Fed rate cut as early as December 11.

EURUSD: The attempt to break through the sellers' defense at 1.1100 failed.

On weak US data, the euro buyers attacked the sellers at the level of 1.1100.

Briefly reached the level of 1.1115 - but the sellers were stronger.

We are in the purchase from 1.1035 and waiting for a new hike up.

Stop at 1.0990.

Entry down from 1.0980.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.