years on the market
Tuesday, July 21st, today’s news—after an almost 5-day summit EU leaders reached a multibillion recovery deal for all 27 member states. European stock, currency, commodity markets rise, Asian companies cut dividends, American futures rally amid the positive reports of tech companies. The price of Brent oil is $44.20, WTI—$41.73. EUR/USD is at 1.1446, GBP/USD—1.2692, gold is $1,825.75 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
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The inclined channel of the descending pattern is breached by the assumed wave 1 of the 1-2-3 pattern. A breakout of the price pivot zone of 363.00 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. The support level of 355.80 has formed. Keep track of the price movement in real time.
Trading recommendations: buy on the breakout of the price pivot zone of 363.00; Stop Loss below the support level of 355.80; target levels: 383.00, 406.00; move to breakeven at the pivot zone price of 370.0.
The pair is trading above 1.1415 following the agreement of the EU leaders on the economic recovery fund. The deal, as well as the optimism over an early release of COVID-19 vaccine, will support the pair in the near future. Keep track of the rate changes in real time.
Trading recommendations: if the pair holds above 1.1415, expect it to resume growth towards 1.1500.
The overall trend is upward. Stochastic Oscillator indicates oversoldness. A breakout of 1.7432 will result in the formation of an ascending wave pattern within the wave (C H4) of the ascending pattern. Keep track of the rate changes in real time.
Trading recommendations: buy above 1.7432; Stop Loss: 1.7388; target levels: 1.7486 (close ½ of the order and transfer to breakeven), 1.7550.
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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.