years on the market
Thursday, March 264th—today's news: coronavirus death toll in Italy rises to 7,000, but the number of new cases is decreasing for the fourth day in a row. Futures are likely to lose their recent gains, Dow is to drop nearly 300 points, a rather bleak unemployment report is expected in the US. EUR/USD is at 1.0928, GBP/USD—1.1898, both rising; Brent oil is $26.81 per barrel, gold is 1,607.14. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The pair is trading below 0.5960. Deteriorating market sentiment may put pressure on it again. In general, markets remain volatile, balancing between the negative effects of coronavirus and large-scale stimulus measures from the world's central banks, including the Australian RBA. Keep track of the rate changes in real time.
Trading recommendations: sell the pair if it does not go above 0.5960 with a local target of 0.5735.
The overall trend is downward. The inclined channel of the ascending pattern is breached. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. Breaking through the price pivot zone of 288.0 will result in the formation of a descending 1-2-3 pattern. Keep track of the rate changes in real time.
Trading recommendations: sell below 288.0; stop loss: 320.00; target levels: 252.34, 230.00.
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.