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08.04.202015:57 Forex Analysis & Reviews: Evening review for April 8th for EUR/USD. Euro needs US labor market statistics

Exchange Rates 08.04.2020 analysis

Outlook for EUR/USD. A lot of macroeconomic data was unveiled during recent days.

1. In Europe, the epidemic has passed its peak. The epidemiological situation has improved in Italy and Spain.

2. Eurozone finance ministers failed to agree on the region-wide stimulus. The meeting is suspended until Thursday.

3. In the US, the situation is likely to stabilize by the end of the week.

Nevertheless, the market mood is still difficult to predict.

I suppose that the US employment data will be of crucial importance. The data is expected to be published on April 9th.

EUR/USD:

Buy positions can be opened from the level of 1.1040.

Sell positions can initiated from 1.0765.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Sam Alan,
Analytical expert
InstaForex Group © 2007-2021
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