years on the market
Monday, June 8th—today's news: oil prices rise as OPEC+ countries agree to extend the production cuts for one more month. American and European markets are trading lower, Asian stocks hit three-month highs. EUR/USD is at 1.1302, GBP/USD—1.2690; Brent oil is $42.72 per barrel, gold is $1,697.40. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
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The overall trend is upward. The currency pair is trading in the range of the round important 1.0700 level. A bullish divergence has formed on the Awesome Oscillator, Stochastic Oscillator indicator signals oversoldness. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, above the round secondary level of 1.0720.
The pair is above the 1.1280, consolidating in anticipation of the Fed’s final monetary policy decsion to be made on a meeting from Tuesday to Wednesday. This will force investors to be cautious ad cause a local correction of the pair. Keep track of the rate changes in real time.
Trading recommendations: if the pair does not hold above 1.1280, it will correct down to 1.1190 (23% of Fibonacci retracement), before resuming growth to 1.1450.
The stock is trading in the range of the support level of 101.67. Bullish divergence has formed on the Awesome Oscillator, and Stochastic Oscillator signals oversoldness. Buy after the downward construction is completed after the breakout of the inclined channel. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending wave M30 level pattern.
Visit the new section on Grand Capital website to monitor the rate changes of your preferred instruments and get useful information to help you decide on a trading strategy.
*Trading recommendations offered by analysts do not constitute a solicitation. Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with the use of leverage and that you have sufficient level of training.