09.06.2020
Tuesday, June 9th—today's news: experts speak of a new "cold war" between the US and China. Dollar strengthens ahead of the Fed's meeting, Asian markets continue to rise on the economic recovery optimism. EUR/USD is at 1.1265, GBP/USD—1.2644; Brent oil is $40.17 per barrel, gold is $1,714.35. 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 currency pair is trading in the range of the round important level 122.00, near the 365 moving average. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. Keep track of the rate changes in real time.
Trading recommendations: buy when the M30 candle closes above the round secondary level of 122.20; stop loss under the round secondary level of 121.80; target levels: 122.50, 123.20, 124.20.
The pair is at a strong support level of 108.00 in anticipation of the Fed’s monetary policy decision, as it is possible that Jerome Powell will hint at the easing of stimulus measures amid the quick recovery of the US economy from the coronavirus pandemic. Keep track of the rate changes in real time.
Trading recommendations: if the pair does not hold above 108.00, it is likely to continue correcting down to 107.00.
The overall trend is upward. The stock is trading in the range of the lower border of the ascending price channel. A descending wave pattern ("red") has formed, an inclined channel has also formed along it. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.
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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