Today 06.03.2020, important macrostatistical data on the United States of America is expected to be published. Some of the main reports today will be: the unemployment rate and Non-Farm Payrolls. We expect that these reports will lead to increased volatility in the currency market.
EUR/USD, 30 min
Pivot – 1.3380
Our analysis:
Provided that level 1.1200 is not broken-down, follow the recommendations below:
The time frame is 30 minutes.
Recommendation - long position
Entry point - above 1.1237, 1.1200
Take Profit 1 - 1.1275
Take Profit 2 - 1.1300
Alternative scenario:
In case of breakdown of the level 1.1200, follow the recommendations below:
The time frame is 30 minutes.
Recommendation - short position
Entry point - 1.1200.
Take Profit 1 - 1.3365
Take Profit 2 - 1.3345
Comment:
RSI shows intraday upward movement. EUR/USD may rise by 63 pips as an upward trend prevails.
Key levels:
Resistance
Support
1.1330
1.1200
1.1300
1.1165
1.1275
1.1145
EUR/USD, D1
Pivot – 1.1332, 1.1220
Our analysis:
As long as the price is above 1.0990, follow the recommendations below:
The time frame is D1
Recommendation - long position
Entry point - 1.1220
Take Profit 1 - 1.1300
Take Profit 2 - 1.1410
Alternative scenario:
If level 1.0990 is broken-down, follow the recommendations below.
The time frame is D1.
Recommendation - short position
Entry point - 1.0990
Take Profit 1 - 1.0880
Take Profit 2 - 1.0775
Comment:
The RSI shows bullish settings and the main one is upward movement. The medium-term downtrend has been broken and the price has consolidated above the level. The asset may rise in price by 168-278 pips.
Key levels:
Resistance
Support
1.1565
1.0990
1.1410
1.0880
1.1300
1.0775
We also advise you to pay attention to the following currency pairs for intra-day trading:
NZD/USD - buy above 0.6289 with targets of 0.6338 and 0.6350 as Take Profit. Alternative scenario - in case of breakdown of the level 0.6289, you should consider selling with the targets 0.6269 and 0.6258 as Take Profit. GBP/USD - long positions above 1.2930 with 1.2970 and 1.3000 targets as Take Profit. Alternative scenario - if the level of 1.2930 is broken-down, sell with the targets 1.2900 and 1.2865 as Take Profit. USD/CHF - sell below the level 0.9485 with the targets 0.9415, 0.9385 as Take Profit. Alternative scenario - if the level of 0.9485 is broken-down, sell with 0.9520 and 0.9545 targets should be considered as Take Profit.
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