06 March 2020, EUR/USD
EURUSD trading plan:
We are expecting a downtrend to develop. Positive macroeconomic statistics from the United States on the labor market will have a positive impact on the value of the dollar. The ISM’s gauge of services employment increased to 55.6 from 53.1, indicating more firms are adding to their payrolls. Private hiring at service providers in the first two months of the year was the strongest since early 2018, according to data Wednesday from the ADP. The number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak. Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 216,000 for the week ended Feb. 29, the Labor Department said.
Trading recommendation: Sell 1.1249 and take profit 1.1190.
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