14.07.2020
Tuesday, July 14th, today’s news—China's exports grow as countries open borders, 2.5% economic growth is expected in the second quarter. Oil prices continue to decline amid the pessimism over demand recovery, as well as ahead of OPEC+ meeting, UK economy enters a tepid recovery. The price of Brent oil is $42.09, WTI—$39.38. EUR/USD is at 1.1339, GBP/USD— 1.2509, gold is $1,802.65 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 overall trend is downward. The ascending H1 level pattern is truncated. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator indicates an overbought condition. Keep track of the price movement in real time.
Trading recommendations: sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated H1 level pattern.
The stock is trading at the lower border of a flat range. An internal flat zone has formed between 43.50 and 45.51. If the price fixes above the resistance, it will rise to the upper border of the main flat range. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator showed an exit from the oversold zone. Keep track of the rate changes in real time.
Trading recommendations: buy above 45.51; Stop Loss below the support level of 43.50; target levels: 47.60, 50.00.
The pair is trading above 1.2535 in anticipation of the UK GDP release, as well as the employment data and performance indicators. If they turn out to be better than predicted, the pair may continue to grow, but in the opposite scenario, expect the price correction to continue. Keep track of the rate changes in real time.
Trading recommendations: if the price drops below 1.2535, it may go further down to 1.2455. At the same time, positive news from Britain will result in a further growth to 1.2670.
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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