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Monday, June 29th, today’s news—total oil rig count in the US fell to 265 against last year's 967. Oil prices continue to fall amid the rising new coronavirus cases. The price of Brent oil today is $40.73 per barrel, WTI—$38.27. EUR/USD is at 1.1262; GBP/USD—1.2328; gold is $1,782.55. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
Every morning on weekdays, our new Chief Analyst Vladimir Rojankovski in his videos talks about political decisions with market implications, global economy news, announcements from central banks and major companies, news of large economic events. Subscribe to our YouTube channel and never miss an update! Today's topic is the drop of S&P500/NASDAQ/DJI.
The overall trend is upward. The descending H2 level pattern is truncated. An assumed wave (A) has broken through an inclined channel of the descending pattern. Awesome Oscillator shows a bullish divergence. If the price breaks through 0.6436, an ascending wave pattern will form as part of the overall uptrend. Keep track of the rate changes in real time.
Trading recommendations: buy above 0.6436; stop Loss: 0.6394; target levels: 0.6506, 0.6570.
The level 56.70 holds back sellers. Awesome Oscillator shows a bullish divergence, Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.
Trading recommendations: buy when a 1-2-3 ascending pattern is formed, where wave 1 breaks through an inclined channel of the descending pattern.
The pair is attempting to break from the range of 1.3500–1.3665. If the crude oil prices resume falling and the dollar remains in demand as a safe haven currency, the pair may rise further. Keep track of the rate changes in real time.
Trading recommendations: if the pair consolidates above 1.3665, it will be likely to continue local growth to 1.3785.
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.