years on the market
Friday, May 8th—today's news: the US dollar dips amid the possibility of negative rates by the Fed. Job losses in the US reach the Great Depression highs, cryptocurrency market surges ahead of bitcoin halving. EUR/USD is at 1.0828, GBP/USD—1.2389; Brent oil is $29.90 per barrel, gold is $1,729.75. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The ascending H1 level pattern is truncated (wave C didn’t break through the 88.2% fib level). Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overboughtness. Keep track of the rate changes in real time.
Trading recommendations: sell while a descending wave pattern is forming, where wave A breaks through the inclined channel of the ascending truncated H1 level pattern.
The general trend is upward. The downward pattern (assumed correction) is truncated. A bullish divergence has formed on Awesome Oscillator. Price pivot zone of 146.77 holds back sellers. Keep track of the rate changes in real time.
Trading recommendations: buy while an ascending pattern is forming, where wave A breaks the inclined channel of the descending truncated pattern.
The pair is still moving in a wide range of 1.3860–1.4245. It will continue to decline to its lower limit as the demand for crude oil is increasing, and OPEC++ is reducing the supply volumes to the global market. This trend will continue today, despite the expected poor Canadian labor market data. Keep track of the rate changes in real time.
Trading recommendations: sell the pair with its probable decline to 1.3860, if it does not grow above 1.3950.
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*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.