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Trading recommendations for EUR / USD on August 24.
Analysis of transactions
Very weak data on Eurozone PMI led to a sharp drop in euro rate. It made traders resort to selling the EUR / USD pair, thereby decreasing its price in the market. The profit realized on such a move was more than 50 points.
No important data is scheduled to be released today, so the market may remain within the current range all day. A slight increase in the euro could occur, but you need to understand that the market is on the side of the bears, so any rise in the pair will be perceived as a more convenient entry into sell transactions.
Trading recommendations for GBP / USD on August 24.
Analysis of transactions
Sell transactions from the level of 1.3218 enabled the GBP / USD pair to reach a price level of 1.3133, thereby bringing about 90 points of profit. Surprisingly, data on the UK services sector did not drive the pound up as it does in normal times, as apparently, the coronavirus remains the main deterrent to the lack of response to good news.
No important data is scheduled to be published today so the market may remain within the current range all day. However, the bulls will most likely try to raise the price of the GBP/USD pair again.
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