Gold reacts to US employment data

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The yellow metal's price fulfilled a bearish scenario on Thursday, as it passed the 1,890.00 level and sharply dropped to the 1,865.00 level. Moreover, on Friday morning the rate reached the support zone of the mid-May high and low levels at 1,852.25/1,856.50.

However, the rate recovered from the 1,852.25/1,856.50 zone. Moreover, at mid-day on Friday the commodity price jumped, as the US Dollar's value was decreased by worse than forecast US monthly employment data at 12:30 GMT.

In regards to the near term future, the metal's price was expected to reach the combined resistance of the 55-hour simple moving average at 1,888.63 and the late May high and low zone at 1,888.20/1,889.40.

In the case of the zone holding, the commodity price would most likely decline and look for support in the 1,852.25/1,856.50 zone. On the other hand, a breaking of the resistance levels could reach for the combined resistance of the 100 and 200-hour simple moving averages near 1,895.00.
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Actual Topics

Mon, 07 Jun 2021 05:59:06 GMT

EUR/JPY remains near 133.20

Downside risks dominated the Eurozone single currency against the Japanese Yen on Friday.

Fri, 04 Jun 2021 12:52:05 GMT

USD/JPY reaches above 110.20

During late Thursday's trading hours, the USD/JPY reached above the resistance of the zone just below the 110.00 level and the 110.20 mark. After passing the resistance levels, the rate began to consolidate by trading sideways. At mid-day on Friday, the consolidation ended, as the pair dropped at 12:30 GMT. At that time the US monthly employment data sets were released

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