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01.06.202017:21 Forex Analysis & Reviews: Evening review on EURUSD for June 01, 2020

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.

Exchange Rates 01.06.2020 analysis

The ISM Industrial Index for May came out at 43.1, as what forecasts expected. This is not bad for the current situation, and it is in fact better than the 41.5 in April.

Construction costs fell by -2.9% which is much better than the -6% forecast.

On the whole, the news is positive amid the crisis situation. Next, we wait for the main news which is the unemployment forecast expected on Wednesday-Friday.

EURUSD:

The pair is moving in an upward trend.

Aggressive - buy from 1.1155 upon the breakdown.

Conservative - buy in case of a pullback from 1.1060 and below.

Jozef Kovach
Analytical expert of InstaForex
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