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[QUOTE="Antony_NPBFX, post: 198134, member: 38727"] [SIZE=5][B]EUR/USD: EUR remains under pressure 06.08.2021 [/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 is declining against USD during the Asian session, updating local lows since July 28 and preparing to end the week with a moderate decline. However, market activity will remain strong as investors focus on the July US labor market report due today. Attention to the upcoming publication has been increased in part because the US Federal Reserve Vice-Chair Richard Clarida said earlier that the regulator could begin to cut stimulus as early as this year if the pace of economic recovery does not slow down amid rising incidence of coronavirus. It is also worth noting that traders were somewhat disappointed with the ADP report on private sector employment, which reflected a sharp slowdown in the growth of new jobs in July from 680K to 330K, which did not meet the optimistic forecasts and expectations. [b] Support and resistance [/b] Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD reversed into a descending plane, having formed a weak sell signal (located below the signal line). Stochastic retains steady downward direction but is located in close proximity to its lows, which indicates the risks of oversold EUR in the ultra-short term. Resistance levels: 1.1849, 1.1900, 1.1950. Support levels: 1.1800, 1.1751, 1.1700. [img]http://businesspr-finance.com/wp-content/uploads/2021/08/EURUSD060821-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/08/EURUSD060821-333.png[/img] [b] Trading tips [/b] To open new short positions, one can rely on the breakdown of 1.1800. Take-profit – 1.1700. Stop-loss – 1.1849. Implementation time: 1-2 days. The return of the "bullish" trend to the market with the breakout of 1.1849 may become a signal for new purchases with the target of 1.1950. Stop-loss – 1.1800. [B]Use more opportunities of the NPBFX analytical portal: economic indicators [/B] Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.). 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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