What is Moving Markets on August 6?

What is Moving Markets on August 6?

Latest news:

  • US Dollar Index attempts to break the 200-period MA ahead of July’s US Nonfarm Payrolls report, which carries high expectations.
  • Investors look forward to Canada’s July jobs report. An increase of 177,500 positions is expected as the nation extends its reopening after lockdowns in the spring.
  • Investors look less concerned about China’s crackdown on tech companies. Despite, coronavirus cases' growth in the world's second-largest economy, HK50 stays in the 26,000-26,600 range.
  • A defining moment for cryptocurrencies. Bitcoin might break through the extremely important resistance line and get pumped after.

Technical analyses

US dollar index tests the 200-period moving average. MA Ribbon indicator shows that the downtrend is almost over. The RSI indicator locates in the middle range and MACD tells the uptrend has just started. In the most likely scenario, after the US Nonfarm Payrolls report, the price will break through moving averages and head towards 93. On the flip side, if it will not, the closest support level is 91.8.


USD/CAD got squeezed between 50 and 200-period moving averages. In case the price holds above the 200-period moving average, it will head towards 1.256 (the 100-period MA) and 1.2596 (Fibonacci 23.6). In another scenario, it will meet 1.24 and 1.231 as these are 50 and 61.8 Fibonacci levels respectively.


HK50. The price has fallen out of the rising wedge and now it is consolidating between 26,240 and 25,980, which are 23.6 and 38.2 Fibonacci levels respectively. It seems that the 38.2 Fibonacci is an extremely important support level as the price could not break it through for 3 times since August 3. That is why we suggest thinking about long trades if the price meets this level again.  In this case, targets will be 26,240 and 26,600. Unfortunately, if HK50 breaks the 38.2 Fibonacci level, it might fall to 25,000 and draw a “double bottom” pattern.


The main question for Bitcoin at the moment is: “Can it break through the blue resistance line?” If it does, the bull-market run will happen and the price will skyrocket up to $44,800 and $48,000. Otherwise, the middle-term target will be $29,700.




Gold and USD ahead of the Fed
Gold and USD ahead of the Fed

Yesterday, the release of the US Inflation rate came out lower than the forecasts (0.1% vs. 0.3%). The soft figures pulled the US dollar index down by almost 1%. At the same time, S&P500, EURUSD, and gold strengthened. Today, the Fed will hold a meeting at 21:00 GMT+3. The Federal Reserve is widely expected to raise the interest rate by 50 basis points.

Traders Should Know About These Releases
Traders Should Know About These Releases

The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!

Latest news

The Most Important News For Today
The Most Important News For Today

The news is essential if you want to trade. Don't miss our digest, where we'll tell you about the most interesting events, happening right now.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera