years on the market
Thursday, August 6th, today’s news—Germany's factory orders soared 27.9%, but European markets are still mixed overall. The US dollar continues to weaken, while the pound sterling is supported by the Bank of England's decision to keep rates steady. The price of Brent oil is $44.95, WTI—$41.76. EUR/USD is at 1.1848, GBP/USD—1.3163, gold is $2,046.50 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The price pivot zone of 55.70 is holding back sellers. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition. Keep track of the price movement in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where wave A breaks through the inclined channel of the descending pattern.
The pair is consolidating in the range of 1.1740–1.1900 ahead of new employment data from the US Department of Labor. If the demand for risk assets persists, the pair will continue to rise against the backdrop of the dollar’s overall fundamental weakness. Keep track of the rate changes in real time.
Trading recommendations: buy the pair when the level of 1.1900 is broken with a likely rise to 1.1975.
The overall trend is upward. The descending H2 level pattern is truncated. Awesome Oscillator indicates a bullish divergence. A breakout of the resistance level of 1.5783 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 1.5783; Stop Loss: 1.5683; the target is 1.5975; if the support level of 1.5683 is breached, cancel the trading plan.
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.