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04.06.202016:11 Forex Analysis & Reviews: Evening review on EURUSD for June 04, 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 04.06.2020 analysis

According to the US weekly unemployment report, applications for benefits already totaled to 1.88 million. While long-term unemployment remained at 21.5 million.

These factors have sparked stabilization as the US labor market seemed to have bottomed out.

Meanwhile, the ECB has allocated another 1.3 trillion euros to support markets and the eurozone economy.

EURUSD:

The pair attempts to grow as well as update yesterday's maximum.

However, for large buyers, the price's position is still unattractive, thus a strong pullback is needed.

You may consider purchases in case of a rollback from 1.1100 and below.

Jozef Kovach
Analytical expert of InstaForex
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