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Thursday, July 2nd, today’s news—record employment growth is expected in the US in June. Oil prices rise amid a sharp drop in crude stockpiles, the Fed official warns of a new financial crisis as new coronavirus cases rise. EUR/USD is at 1.1296; GBP/USD—1.2523; Brent oil is $42.39 per barrel, WTI—$40.16; gold is $1,781.65. 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 downward. The descending (red) pattern is truncated, Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicates an oversold condition. This allows us to suggest that the descending red pattern is the wave B of an ascending H1 level pattern. Keep track of the rate changes in real time.
Trading recommendations: buy when the ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending pattern.
The overall trend is upward. The stock is trading within the range of 365 and 135 moving averages directed upward. Awesome Oscillator shows a bullish divergence. The descending pattern is truncated and formed the support level 0.7280. Keep track of the rate changes in real time.
Trading recommendations: buy when the ascending wave pattern is formed, where wave (aC) breaches the inclined channel of the truncated descending pattern.
The pair is consolidating ahead of the US employment numbers release. If they are positive, the pair is expected to rise locally as the dollar loses demand as a safe haven currency. Keep track of the rate changes in real time.
Trading recommendations: the pair is highly likely to rise to 1.1350 amid the positive employment numbers in the US.
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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.