years on the market
Monday, July 6th, today’s news—Asian markets rise as China’s blue chips hit the five-year peak. The US dollar is falling amid the new coronavirus cases despite the positive employment data. The price of Brent oil is $43.52, WTI—$40.94. EUR/USD is at 1.1294, GBP/USD— 1.2487, gold is $1,786.55 per ounce.. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The past weekend at the US exchanges, new positions, market sentiment—in the new video by our Chief Analyst Vladimir Rojankovski. Subscribe to our YouTube channel and never miss an update!
The overall trend is upward. The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator. A breakout of 0.9035 will result in the formation of an ascending wave pattern within the overall uptrend. Keep track of the rate changes in real time.
Trading recommendations: buy above 0.9035; stop Loss: 0.8996; target levels: 0.9079, 0.9150.
The pair is trading below the strong resistance level of 0.6560, supported by the positive dynamics in Asian stock markets, which in turn rose under the influence of strong data from the US labor market published on Friday. Keep track of the rate changes in real time.
Trading recommendations: buy the pair after it has passed 0.6560 with the possibility of further growth to 0.6665.
The 359.50 support level held back sellers. A breakout of the price pivot zone of 368.00 will result in the formation of a 1-2-3 ascending pattern. Stochastic Oscillator indicates an oversold condition, and Awesome Oscillator shows a bullish divergence. Keep track of the rate changes in real time.
Trading recommendations: buy on the breakout of the price pivot zone of 368.00; stop loss below the support level of 359.50; target levels: 383.00; 406.00.
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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.