For Traders

Analytical Reviews

Trading plan

04.02.202109:08 Forex Analysis & Reviews: Trading plan for EUR/USD on February 4. Euro continues to trade downwards in the market.

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.

COVID-19 is clearly retreating. Global incidence has finally dropped to 30% below record peaks, and the largest decline was in the US.

At the same time, the pace of vaccination has upped a bit. In the United States, at least 10% of the population has been vaccinated already. In Europe, there is also progress, but the percentage of those vaccinated is still below 10%.

EUR/USD - Euro continues to decline amid strong economic data from the US.

Yesterday, it was reported that employment has increased by 170,000 in January.

Taking this into account, it is a good idea to open short positions at 1.2055, as a new wave of decline is expected to occur today.

For long positions, place them at 1.2160.

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.