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05.08.2020 11:50 AM
Trader's diary on 08/05/2020. EURUSD; Dollar is ready for another decline

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EURUSD:

An important report on the labor market will be released today at 12:15 Universal time. This may cause the dollar to decline once again, if the trend of slowing down the US labor market is confirmed.

In recent weeks, unemployment has begun to stabilize at around 10.5% - a very bad option for the United States and Trump. The number of unemployed is likely to stabilize at around 17 million and this will require new stimulus measures, however, the Fed and the budget are already heavily loaded.

We continue to buy from the level of 1.1810.

We are ready to sell from the level of 1.1690.

Jozef Kovach,
Analytical expert of InstaForex
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