years on the market
Friday, August 7th, today’s news—the US President Donald Trump issues ban on TikTik and WeChat in the country, plunging the stock prices of their parent companies and driving up the stock price of their American competitor, Facebook. EU markets are expected to go lower amid the escalating US-China tensions, while Germany is increasingly optimistic about production growth in the country. The price of Brent oil is $44,98, WTI—$44,98. EUR/USD is at 1.1826, GBP/USD—1.3090, gold is $2,060.45 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The pair is consolidating in the range of 1.1740–1.1900 ahead of the new US employment data. If it’s not worse than the consensus forecast, which is 1.6 million new jobs, the pair is likely to return to the uptrend. Keep track of the price movement in real time.
Trading recommendations: buy the pair when the level of 1.1900 is broker with a likely rise to 1.1975. At the same time, if the new jobs data is worse than predicted, the pair may fall to 1.1740.
CCI shows a breakout of the level of 100, followed by an assumed correction to the range of the price pivot zone 78.90. Buy after the correction pattern is completed by an ascending wave pattern. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending pattern.
The overall trend is upward. The descending pattern is truncated. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated H1 level pattern.
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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.