GBP/USD surges due to US data

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


On Friday, at 12:30 GMT, the US statisticians published monthly employment data, which caused a decline of the US Dollar. The initial decline was followed up by an extension of the fall of the value of the US Dollar. On the GBP/USD charts it resulted in a move upwards.

By the middle of Monday's trading hours, the rate had reached the resistance of the 1.3860 level, which was expected to be strengthened by the 200-hour simple moving average.

If the currency exchange rate passes the resistance of the 1.3860 level and the 200-hour SMA, it would have no technical resistance as high as the 1.3940 level, where the weekly R1 simple pivot point was located at. However, take into account that the 1.3900 mark could provide the rate with resistance.

On the other hand, a potential decline would most likely find support first in the weekly simple pivot point at 1.3837. Afterwards, the 100-hour SMA could provide support near 1.3815. In addition, the 55-hour SMA at 1.3795 might provide additional support.
Back to articles

Actual Topics

Mon, 05 Jul 2021 10:25:12 GMT

USD/JPY declines below 111.00

The USD/JPY failed to pass the resistance zone above the 111.60 level. Moreover, during the last attempt to reach higher, the rate was beat down by fundamental news. Namely, worse than expected US employment data was released on Friday at 12:30 GMT. By the middle of the day's European trading hours, the rate had extended its decline and reached the 110.80

Mon, 05 Jul 2021 09:47:53 GMT

EUR/USD surges above SMAs

On Friday, at 12:30 GMT, the release of US monthly employment data caused a surge, which broke the resistance of the 55 and 100-hour simple moving averages. By the middle of Monday's European trading hours, the pair had reached the 1.1880 level and had no technical resistance as high as the 1.1900 level. In the near term future, the rate

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.