For Traders

Analytical Reviews

05.08.202011:50 Forex Analysis & Reviews: Trader's diary on 08/05/2020. EURUSD; Dollar is ready for another decline

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.

EURUSD:

An important report on the labor market will be released today at 12:15 Universal time. This may cause the dollar to decline once again, if the trend of slowing down the US labor market is confirmed.

In recent weeks, unemployment has begun to stabilize at around 10.5% - a very bad option for the United States and Trump. The number of unemployed is likely to stabilize at around 17 million and this will require new stimulus measures, however, the Fed and the budget are already heavily loaded.

We continue to buy from the level of 1.1810.

We are ready to sell from the level of 1.1690.

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.