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  • Monday 8 June 2020

    Forex Weekly Setups, 8th June to 12th June 2020

    Last week we saw a recovery on the dollar towards the end of the week as the US employment change results improved during May, and this we have a significant rise in the investments made on the dollar as the economy undergoes recovery with more businesses recovering.

    On Fundamentals this week we expect a recovery on the consumer price index as the economy opens which will likely give a much further bullish momentum on the dollar index. below we have shared the dollar index setup and other trade opportunities you should look up to this week.

    USD Index
    The US dollar Index had a very bad start in the beginning of the month as the currency experienced a lot of selling as the protests in the US continued and causing most businesses to keep their doors shut to prevent looting after the brutal death of George Floyd.

    The markets closed on a positive note for the dollar as the employment data came back as positive which show a good recovery from the coronavirus pandemic.

    The EurDollar pair has been very bullish in the last two weeks and the death of George Floyd caused the markets to move as the USA had a standstill with protest all over the state.

    Dollar Swiss currently stands on a very good buy opportunity as the pair is currently at a support zone as shown below, we will be looking forward to a 100pip move upwards as the week starts.

    We believe that this article and given setups will help you understand the market better and help you trade more successful this week.

    Sifiso Nkwanyana

    Author & Editor

    I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.


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