years on the market
Thursday, May 14th—today's news: US Treasury yields fall after the pessimistic statements by the Fed and ahead of the jobless claims data. European markets are weakened, global investors turn to Chinese stocks, as they are stronger than the American ones amid the pandemic. EUR/USD is at 1.0809, GBP/USD—1.2222; Brent oil is $30.27 per barrel, gold is $1,725.45. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The 1.0510 support level is holding back sellers. A descending truncated pattern has formed. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness. Keep track of the rate changes in real time.
Trading recommendations: buy while an ascending wave pattern is forming, where the wave (A) breaks through the inclined channel of the descending truncated pattern, completing it.
The stock is trading at the lower border of a flat range. The 71.37 support level is holding back sellers. Breaking through the price pivot zone of 73.30 will result in the formation of an ascending 1-2-3 pattern. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator showed an exit from the oversold zone. Keep track of the rate changes in real time.
Trading recommendations: buy above 73.30; stop loss: 71.37; target levels: 75.00, 76.00, 78.70.
The pair fell below 1.22000, where it has been since March 27. It’s starting to get affected negatively by the unexpectedly resurfaced Brexit, which has been overshadowed by the pandemic for a time. A set of circumstances negative for the UK may have a significant long-term negative influence on the British currency. Keep track of the rate changes in real time.
Trading recommendations: if the pair corrects below 1.2200, it will continue to form the double top pattern with a likely drop first to 1.200, and then to 1.1900.
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.