Trading plan for EUR/USD on June 2, 2020. Coronavirus updates from around the world. The US market keeps on rising despite

Coronavirus updates as of the morning of June 2: The situation in the US is a little bit brightening, as the number of deaths in the country have dropped below 1,000 per day for two days in a row. However, the number of new cases is still above 20 thousand per day, with the worst situation in Brazil, in which 15 thousand new cases are added per day.Meanwhile, a new wave of the pandemic may be declared in India and Peru, if the number of infections in both countries continue to accelerate.In Russia, the number of new cases is about 9,000 per day, but the number of people who recovered as of June 2 has already exceeded 3,000.The US market keeps on growing despite the negative news surrounding the US. To date, there are already 20 million unemployed in the US, and another 8 million per month is expected. In addition, 40 cities in the country are under curfew due to racial unrest, and the pandemic problems still remain.Nevertheless, the US market will soon fall, so open sell positions from the current prices.EUR/USD: The market is in an upward trend. Open buy positions at a breakout from 1.1155, or at a…

Trading recommendations for GBP/USD pair on June 2

From the point of view of complex analysis, you can see that the quote went through most of the flat formation, and now let’s talk about the details.
The last trading day reflected the high activity of market participants where the quote managed to consolidate above the level of 1.2350 at the beginning of the Asian trading session, which was the starting point for the breakdown of last week’s maximum – 1.2392. Traders did not stop there, the inertial move was set by the market, a small push was enough for further growth. As a result, the pound has grown up to the forecasted level of 1.2500, and this, by the way, is 74% of the flat formation 1.2150 // 1.2350 // 1.2620.
Before going further, it is worth recalling that the upward turn is held on the market for at least 11 trading days, and its total value is more than 450 points. The existing scale violated the text component of the first of May, which means that the restoration process, which so many had hoped for, is postponed indefinitely.
Flat formation is what traders are currently focused on as a development prospect. It is worth considering one point…

Aussie Little Changed After RBA Decision

The Reserve Bank of Australia kept its benchmark lending rate at 0.25 percent, as expected. Following the announcement, the aussie changed little against its major rivals. The aussie was trading at 73.13 against the yen, 1.6385 against the euro, 0.6791 against the greenback and 1.0806 against the kiwi around 12:34 am ET. The material has been provided by InstaForex Company –…

Analysis and forecast for EUR/USD on June 2, 2020

Hello, traders!
At yesterday’s trading, the main currency pair of the Forex market was just eager to continue strengthening, and it succeeded. As usual, we will move on to the technical picture for the euro/dollar pair a little later. For now, we will briefly talk about the events of yesterday and what is expected today.
From Europe, the indices of business activity in the manufacturing sector turned out to be mixed. If in Italy and France the indicator was better than the forecast values, in Germany and the Eurozone, as a whole, production activity decreased more than expected by economists.
Later, data on manufacturing activity in the United States of America were also released. The ISM manufacturing index, which in April was at an 11-year low of 41.5, rose to 43.1 last month. However, I note that if this indicator is below 50, this is a negative moment for the manufacturing sector, whose share in the US GDP is 10-11%. I would also like to remind you that the US economy in the first quarter of this year declined by 5% in annual terms, and after the crisis of 2008-2009 — this is the worst indicator. Nothing can be done, the consequences of COVID-19…

AUD/USD. Attractive and promising Australian currency

The Reserve Bank of Australia held its regular meeting today, which was expected to be “passable”. Nevertheless, the RBA’s passivity in the current conditions plays into the hands of the “Aussie” – the AUD/USD pair continued to siege the 68th figure after some hesitations. At the moment, the “round” level of 0.6800 plays the role of a psychologically important resistance level, while from the technical point of view, the nearest resistance is slightly higher – at 0.6850 (the lower border of the Kumo cloud on the weekly chart). All indicators speak in favor of further price growth, and the fundamental background also contributes to the growth of bullish sentiment.Before the June meeting of the RBA, the head of the regulator made several important statements, thereby indicating the position of the Central Bank regarding the future prospects of monetary policy. At today’s meeting, the Central Bank members only confirmed the theses voiced earlier, having provided background support to the AUD/USD pair. However, the Australian currency reacted modestly enough to the results of the June meeting – by and large, the market played the most important messages of Philip Lowe yesterday.Let me remind you that at the beginning of this week, the RBA…

Trading idea for USD/CHF

Good afternoon traders. A trading idea for USD / CHF.
The quotes of USD / CHF have been declining all throughout May and managed to break last month’s low yesterday. Set limit orders to trigger a rebound and push the quotes back to a flat, in accordance with the plan below:
Place limit orders from the current prices or below, to get a movement of about 50-100 pips.
Increasing volumes in the grid is not recommended.
If the first transaction already moves 100 pips, close the order.
Good luck!
The material has been provided by InstaForex Company –…

Indonesia Manufacturing PMI Climbs To 28.6 In May – IHS Markit

The manufacturing sector in Indonesia continued to contract in May, albeit at a lightly slower pace, the latest survey from IHS Markit showed on Tuesday with a manufacturing PMI score of 28.6. That’s up from the record low of 27.5 in April, but it remains substantially beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually, output and new orders both continued to fall sharply due to Covid-19 measures, while there was a record fall in employment amid evidence of layoffs. Input costs rose further due to material shortages and a weaker rupiah. The material has been provided by InstaForex Company –…