years on the market
Thursday, May 28th—today's news: European markets are rising following the announcement of a new 750 billion euro stimulus package. Dow Jones and other US stock indices are rising, Chinese parliament approves the Hong Kong national security bill, which leads to further tensions with the US. EUR/USD is at 1.1008, GBP/USD—1.2259; Brent oil is $34.77 per barrel, gold is $1,722.50. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The resistance level of 0.8572 held back the bulls. A bearish divergence has formed on Awesome Oscillator. Breaking through the support level of 0.8485 will result in the formation of a 1-2-3 descending pattern. Keep track of the rate changes in real time.
Trading recommendations: sell when a 1-2-3 descending pattern is formed, below 0.8485; stop loss: 0.8572; target: 0.8354.
The overall movement is upward. The 193.0 support level is holding back sellers. 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 an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending pattern.
The pair is consolidating above the strong support level of 1.0985. Expect the price to continue to increase despite a possible slight correction, as investors move away from dollar assets and start buying risk assets more actively, including those denominated in euros. Keep track of the rate changes in real time.
Trading recommendations: buy the pair after a corrective decline to 1.0985, but only if this level holds. Expect the pair to resume rising to 1.1040.
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.