empty
07.12.2020 11:30 AM
Trading recommendations for EUR/USD and GBP/USD pair on 12/07/20

This image is no longer relevant

Past review of EUR/USD pair

Last Friday, the Euro managed to update its local high once again, but the upward movement slowed down after that.

What was published on the economic calendar?

The report of the US Department of Labor was the main event in terms of statistics, where the unemployment rate fell from 6.9% to 6.7%, which is better than the forecast of 6.8%. The decline in the unemployment rate signals the recovery of the labor market and, as a result, the economy.

On the other hand, non-agricultural employment grew by only 245 thousand, while expecting 469 thousand. This is considered the weakest growth in seven months. The discrepancy in employment expectations is not considered the best signal, but huge growth was still observed.

The market reaction to the report of the US Department of Labor had a positive effect on the dollar against the euro.

What happened on the trading chart?

Initially, the quote maintained the upward trend, resulting in an update of the local high at 1.2174 ---> 1.2177. It was followed by a stop within the level of 1.2177, which the market regarded as resistance. As a result, the European currency began to lose its positions, pulling back as much as possible to the level of 1.2110.

A high degree of overbought Euro and the decline in the US unemployment rate contributed to the strengthening of the US dollar.

This image is no longer relevant

Past review of GBP/USD pair

The pound managed to show local upward interest on Friday, but a correction still occurred at the end of the trading day.

What was published on the economic calendar?

The business activity index in the construction sector was published in the UK, where there was an acceleration from 53.1 points to 54.7 points, instead of an activity slowdown.

At the time the statistics was published, the pound was strengthening.

As before, the main event was the report of the US Department of Labor, which contributed to the strengthening of the US dollar.

What happened on the trading chart?

The British currency showed an upward interest at the beginning of the European session. As a result, the quote managed to rise to the level of 1.3537, which led to updating the local highs and reaching the levels of 2018.

The overbought pound, paired with the report of the US Department of Labor, led to a slowdown in the upward movement, which resulted in a correction towards the level of 1.3400.

A similar result with correction was forecasted in the previous review, which could bring us profit around 70-80 points.

This image is no longer relevant

Trading recommendation for EUR/USD on December 7

We do not have any significant statistics for Europe and the United States in today's economic calendar. Therefore, the market will follow technical analysis, as well as the flow of information noise.

In terms of technical analysis, the pullback stage from the coordinate 1.2177 can be seen. If the quote manages to consolidate below the level of 1.2100, then moving to a new level in the form of a correction will be possible, with a more impressive decline towards 1.2050-1.2000.

It is worth noting that the overbought factor of the European currency still remains on the market.

This image is no longer relevant

Trading recommendation for GBP/USD on December 7

Considering the economic calendar, statistics from the UK and the United States will not be released today. However, we will pay special attention to the trade negotiations on Brexit. Any positive Brexit news will push the pound upwards, while a negative background on the trade deal will lead to the pound's decline.

As for the technical analysis, it can be seen that the previously set correction move from the local high of 1.3537 has already led the quote below the level of 1.3350. If the downward move continues, the quote may further decline to the level of 1.3300, where a rebound will likely occur.

This image is no longer relevant

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Vladislav Tukhmenev
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

如何在7月25日交易GBP/USD貨幣對?初學者的簡單建議和交易分析

週四,英鎊/美元貨幣對出現了相對較強的下跌,這是因為英國的商業活動指數疲弱所致。然而,這個解釋僅有50%的準確性。

Paolo Greco 06:43 2025-07-25 UTC+2

如何在7月25日交易EUR/USD貨幣對?初學者的簡單交易技巧與分析

週四,歐元兌美元匯率並未出現顯著變動,並且保持在低波動性範圍內,即使這一天是本周最具事件性的日子,包含了大量的宏觀經濟和基本數據。德國、歐元區和美國的服務業和製造業商業活動指數均已公佈,但其數值並不值得特別提及,因為它們對該貨幣對的走勢或整體趨勢沒有影響。

Paolo Greco 06:43 2025-07-25 UTC+2

2023年7月25日英鎊/美元的交易建議與交易分析:英鎊迎來調整時機

週四,英鎊/美元貨幣對走低,這可以被視為一個本地矯正。只有當價格跌破位於當前價格附近的Ichimoku指標線,這一波動才不再被視為矯正。

Paolo Greco 04:17 2025-07-25 UTC+2

2023年7月25日 EUR/USD 交易建議與交易分析:市場徘徊不定

週四,EUR/USD 貨幣對呈現出驚人的低波動性,並且完全不願意向任何明確方向移動。許多交易者原本期待當日的活躍走勢,因為這是本週少數幾天之一有宏觀經濟發布。

Paolo Greco 04:17 2025-07-25 UTC+2

如何在7月24日交易GBP/USD貨幣對?給初學者的簡單技巧與交易分析

周三,英鎊/美元對也繼續其上升趨勢。正如預期的那樣,這一現象的發生不需依賴任何新聞或報告。

Paolo Greco 07:12 2025-07-24 UTC+2

如何在7月24日交易歐元/美元貨幣對?初學者的簡單指南和交易分析

週三,歐元兌美元貨幣對繼續上漲。本週基本上每天都看到相同的模式──美元持續下跌,這是預期中在價格突破下降趨勢線後的走勢。

Paolo Greco 07:12 2025-07-24 UTC+2

2023年7月24日英鎊/美元的交易建議及交易解析:英鎊未找到停頓的理由

與歐元兌美元貨幣對不同,英鎊兌美元貨幣對在週三穩步上升。當天,美國和英國均沒有重大宏觀經濟事件發生;然而,市場繼續增加對英鎊的購買並賣出美元。

Paolo Greco 04:02 2025-07-24 UTC+2

2023年7月24日EUR/USD交易建議及交易分析:特朗普的貿易協議未能提振美元

週三,歐元/美元貨幣對並未出現顯著變動,市場對唐納德·特朗普的貿易協議並不感興趣。我們反覆強調,若所有關稅依然如故,那貿易協議的意義何在?當貿易談判開始時,市場預期最終將結束貿易戰—或至少帶來沒有大量關稅和附加條件的公平協議。

Paolo Greco 04:02 2025-07-24 UTC+2

如何在7月23日交易GBP/USD貨幣對?給初學者的簡單技巧與交易分析

週二,英鎊/美元貨幣對也繼續其上升趨勢。如預期,這不需要任何新聞或報告。

Paolo Greco 06:51 2025-07-23 UTC+2

如何在7月23日交易歐元/美元貨幣對?初學者的簡單技巧和交易分析

週二,歐元/美元貨幣對如預期持續上升。回顧前一天,價格已突破下降趨勢線,從而完成了持續三週的下跌趨勢。

Paolo Greco 06:51 2025-07-23 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.