04.06.2020
Thursday, June 4th—today's news: Asian markets reach two-month highs. Jobless claims in the US fall below the two million mark for the first time since mid-March, oil prices drop once again as OPEC+ countries fail to agree on further production cuts. EUR/USD is at 1.1199, GBP/USD—1.2511; Brent oil is $39.38 per barrel, gold is $1,708.05. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
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A Pin Bar reversal pattern has formed on the daily timeframe. A bearish divergene has formed on Awesome Oscillator, while Stochastic Oscillator signals overboughtness. Keep track of the rate changes in real time.
Trading recommendations: sell below 0.9300; stop loss: 0.9410; target levels: 0.9187, 0.9120.
The stock is trading in the range of the support level 39.00. Stochastic Oscillator signals a change from the downtrend to shows a shift to uptrend, as moving averages are intersecting in the range of the oversold level (20). A descending truncated M30 level pattern has formed. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern formed, where the wave (A) breaks through the inclined channel of the descending truncated M30 level pattern.
The pair stopped rising ahead of the ECB’s monetary policy decision, an important aspect of which is the new 750 billion euro stimulus package expected by the markets. The euro will come under pressure following the announcement due to profit taking, although it will still be able to rise in relation to the dollar. Keep track of the rate changes in real time.
Trading recommendations: sell the pair with a local target of 1.1140 after the price crosses 1.1200.
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.
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