Recent reports of tariffs on gold bar imports to the U.S. were denied, shifting investor focus back to macroeconomic data. In Q2, overall employment increased by 0.6% year-on-year, while job vacancies decreased by 10.0%, reflecting easier hiring conditions and improved labor prospects. Total jobs reached 5.532 million, up by 35.4 thousand, but employment in the secondary sector fell by 4.6 thousand or 0.4% to 1.129 million, offset by an increase in the tertiary sector of 40.0 thousand or 0.9%.
The U.S. dollar is holding at 98.20 in the USDX, supported by political developments. President Donald Trump dismissed Fed Board member Lisa Cook over mortgage-related allegations, though no evidence was presented. Analysts see this as another attempt to fill the Fed with loyal members to increase political control. Still, the Fed’s next moves remain uncertain. St. Louis Fed President Alberto Musalem stated he needs additional inflation data to make a decision at the September 19 meeting.
Support and Resistance Levels
On the daily chart, the pair trades below the resistance line of a descending channel with dynamic boundaries of 0.8170–0.7650.
Technical indicators keep a buy signal: fast EMAs on the Alligator indicator have crossed the signal line upward, while the AO histogram is above the baseline.
Resistance levels: 0.8100, 0.8300.
Support levels: 0.8000, 0.7870.
Trading Scenarios
Long positions can be opened after growth and consolidation above 0.8100 with a target of 0.8300 and a stop-loss near 0.8000. Implementation period: 7 days or more.
Short positions can be opened if the price falls and consolidates below 0.8000, with a target of 0.7870 and a stop-loss at 0.8070.
Scenario
Timeframe: Weekly
Recommendation: BUY STOP
Entry Point: 0.8100
Take Profit: 0.8300
Stop Loss: 0.8000
Key Levels: 0.7870, 0.8000, 0.8100, 0.8300
Alternative Scenario
Recommendation: SELL STOP
Entry Point: 0.8000
Take Profit: 0.7870
Stop Loss: 0.8070
Key Levels: 0.7870, 0.8000, 0.8100, 0.8300