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    EXNESS

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    EURUSD: consolidation before publication of the US labor market report for April

    Sell on a level breakthrough of 1.1385 with 1.1300 target. Stop loss = 1.1435.

    Reason for the trading strategy

    According to the statistics, in May the dollar index has grown by an average of 1.3% during the nine of the last 11 years. Currently, investors are buying the dollar as a safe asset, watching the decline in the business activity in the world's major economies and in the transnational companies' profits. The US labor market statistics for April published today could become a trigger for opening new long positions on the dollar.

     

    EURUSD, H1



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