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[QUOTE="Antony_NPBFX, post: 196151, member: 38727"] [size=5][b]EUR/USD: euro is trying to recover 7.06.2021[/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] EUR shows ambiguous trading dynamics against USD during the Asian session, consolidating near 1.2160 and maintaining the "bullish" momentum formed at the end of last week. EUR, like many other instruments, managed to show growth last Friday, responding to the release of the US labor market report for May, which could not meet all the expectations of traders. It should be noted that the data can still be called strong, but investors fear that it is not enough to change the course of the US Fed's monetary policy. The American economy created 559K new jobs in May after 278K in April. Market forecasts assumed an increase of 650K. In turn, the Unemployment Rate fell more than expected, from 6.1% to 5.8%, which was not reflected in the dynamics of the instrument. Today, investors are focused on statistics from Germany on the volume of factory orders for April. [b] Support and resistance [/b] In the D1 chart, Bollinger Bands are reversing horizontally. The price range is slightly expanded from below, remaining spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows similar dynamics, rapidly approaching its lows, which indicates risks associated with the oversold EUR in the ultra-short term. Resistance levels: 1.2200, 1.2265, 1.2309, 1.2348. Support levels: 1.2150, 1.2100, 1.2050, 1.2000. [img]http://businesspr-finance.com/wp-content/uploads/2021/06/EURUSD07062021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/06/EURUSD07062021-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on a confident breakout of 1.2200. Take-profit – 1.2309. Stop-loss – 1.2150. Implementation time: 2-3 days. The return of "bearish" trend with the breakdown of 1.2150 may become a signal for new sales with the target at 1.2050. Stop-loss – 1.2200. [b]Use more opportunities of the NPBFX analytical portal: glossary[/b] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. 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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