years on the market
Thursday, August 13th, today’s news—European markets opened in negative territory due to economic recovery pessimism, and ahead of the US jobless claims data. Negative OPEC report sent oil prices plunging, the US dollar and stock indices are once again weakening. The price of Brent oil is $45.27, WTI—$42.52. EUR/USD is at 1.1825, GBP/USD—1.3079, gold is $1,937.95 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 0.9468 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator showed an exit from the oversold zone. A breakout of the resistance level of 0.9512 will result in the formation of an ascending pattern of 1-2-3. Keep track of the price movement in real time.
Trading recommendations: buy above 0.9512; Stop Loss: 0.9468; target levels: 0.9557, 0.9638; cancel the trading plan in case of a retest or breakout of 0.9468.
The pair is supported as Treasury yields rise, as well as due to the uncertainty around Donald Trump’s stimulus checks, which are bombarded by his political opponents from the Democratic Party. If these two factors remain in effect, the pair will move higher. Keep track of the rate changes in real time.
Trading recommendations: if the pair holds above 106.60, it will continue to grow to 107.25.
The overall trend is upward. The 72.00 support level is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. A breakout of 74.48 will result in the formation of an ascending pattern of 1-2-3.
Trading recommendations: buy above 74.48; Stop Loss: 72.00; target levels: 77.70, 79.30.
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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.