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[QUOTE="Antony_NPBFX, post: 195345, member: 38727"] [size=5][b]EUR/USD: US labor market data put pressure on the pair[/b][/size] Good afternoon, dear forum visitors! [url=https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. [b]Current trend [/b] Quotes of the EUR/USD pair slowed down their growth, trading in a corrective trend at 1.2090. The day before, European Commission published the spring forecast for the development of the EU economy, according to which the economic indicators of the region will be able to return to pre-crisis levels only by the end of 2022 and the beginning of 2023. Eurozone GDP is projected to grow by 4.2% in 2021 and 4.4% in 2022. Today, the European Central Bank is to publish a statement on monetary policy. Investors do not expect changes, as key indicators have not yet approached the "decision-making levels": inflation is at 1.6%, and the unemployment rate is far from the target range of 7.0%–7.4%. For the first time this week, the quotes of USD showed acceptable growth. After serious fears about high inflation, investors expected a fall in the labor market, but yesterday's data showed positive dynamics. The number of Initial Jobless Claims decreased from 507K to 473K against the forecast of 490K. In turn, the Producer Price Index in April rose by 0.6% with an expected increase of 0.3%. [b]Support and resistance [/b] On the global chart of the asset, the price continues correctional growth. Technical indicators maintain the buy signal: the range of EMA fluctuations on the Alligator indicator stays wide and the histogram of the AO oscillator is trading in the purchase zone. Resistance levels: 1.2162, 1.2336. Support levels: 1.2000, 1.1842. [img]http://businesspr-finance.com/wp-content/uploads/2021/05/eurusd14052021-33.png[/img] [b]Trading tips [/b] If the asset continues growing and the price consolidates above the local resistance at 1.2162, long positions will be relevant with target at 1.2336. Stop-loss – 1.2100. Implementation time: 5 days. If the asset declines and the price consolidates below the local support at 1.2000, short positions can be opened with the target at 1.1842. Stop-loss – 1.2060. [b]Use more opportunities of the NPBFX analytical portal: E-book[/b] If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on EUR/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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