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Tuesday, August 11th, today’s news—UK registers the heaviest job losses since 2009 due to the coronavirus. Markets of Asia, Europe and the US rise despite the escalating US–China tensions, oil prices continue to consolidate. The price of Brent oil is $45.43, WTI—$42.49. EUR/USD is at 1.1782, GBP/USD—1.3097, gold is $2,001.70 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The overall trend is upward. The descending (red) wave pattern is truncated and has ended with the breakout of an inclined channel. A breakout of the resistance level of 0.7185 will result in the formation of an ascending wave pattern within the overall uptrend. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator shows an exit from the oversold zone. Keep track of the price movement in real time.
Trading recommendations: buy at 0.7185; Stop Loss: 0.7140; target levels: 0.7238, 0.7320.
The pair is trading in a short-term downtrend amid the rising oil prices and the overall growth in demand for risk assets in the markets. If this sentiment persists, the pair will fall further. Keep track of the rate changes in real time.
Trading recommendations: the pair is below 1.3335, which will lead to a decline to 1.3245, and then to 1.3200.
The price pivot zone of 9.80 is holding back sellers. The stock is trading in the range of 365 and 135 moving averages directed upwards. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition.
Trading recommendations: buy above 9.98; Stop Loss: 9.80; target levels: 10.15, 10.80.
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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.