Welcome trading legends,
In this post, we’ll be trading the EUR/USD asset using the signals provided by the Tools Trades website and the IQ Option broker. Be sure to stick to the end of the video as I’ll be sharing a special promo code with you.
Allow me to explain why I’m trading this particular asset.
Following the results of yesterday's trading, the main currency pair of the Forex market, in the truest sense of the word, collapsed. Thus, the assumption that the US dollar has ended its downward cycle and moved to a large-scale strengthening across a wide range of markets is confirmed. If we look specifically at the EUR/USD currency pair (which is exactly what we are currently doing), it becomes obvious that the prospects for the US economy and the timing of its recovery from the crisis caused by the COVID-19 pandemic are more favorable than in the zone where the single European currency moves.
In all honesty, today's employment reports in the United States should confirm (or refute) such an opinion. Let's take a closer look at today's labor market data and the expectations associated with the upcoming reports. So, today, at 14:30 London time, the US Department of Employment will provide data on the labor market for the first month of this year. As a rule, bidders pay the closest attention to three indicators.
This is a change in the number of people employed in non-agricultural sectors of the economy, where the forecast is very modest. As economists expect, in January, only 50 thousand new jobs were created in the world's leading economy. Naturally, such a small figure is a consequence of the serious coronavirus epidemic in the United States. Another important indicator is unemployment, which is projected in January at the same level as it was previously 6.7%, that is, no changes are expected here.
Yesterday's fall ended for the euro/dollar at 1.1963. The daily chart clearly shows that after the breakdown of the strong support zone 1.2060-1.2050, which held the quote for a long time, the pressure on the pair increased significantly, which is not surprising. Most often, this is exactly what happens in the market.
As you can see the signals from the Tools Trades website have worked!
The promo code that you see on the screen will give you more trading signals if you use them on the Tools Trades website.
Be sure to watch my other videos on the channel and read the blog page so you learn more. If you want more videos like this be sure to like and subscribe. Thanks for watching and
May the Forex be with you.
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