Analytic reviews

USDCHF

The overall trend is downward. A bearish divergence is forming on Awesome Oscillator, and Stochastic Oscillator showed an exit from the overbought zone.

Trading recommendations:

Buy when a 1-2-3 downtrend pattern is formed, where wave 1 breaks the inclined channel of the downward pattern.

Stop Loss beyond the local maximum.

Target levels: 0.9069; 0.9000.

Wednesday, September 2nd, today’s news—weak eurozone data, negative inflation, low retail sales in Germany. Despite this, European shares are rising following a strong Wall Street session, Dow futures are up nearly 100 points, oil and Treasury yields are rising. The price of Brent oil is $45.67, WTI—$42.92. EUR/USD is at 1.1866, GBP/USD—1.3358, gold is $1,977.75 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

GBPNZD analysis

The assumed correction is approaching the 50% Fibo level from the rising wave. A price pivot zone of 1.9634 is also there. If the level holds, a descending truncated pattern will continue to form. The bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition. Keep track of the price in real time.

Trading recommendations: buy strictly when an ascending wave pattern is formed, where the wave (as) breaks through the inclined channel of the descending pattern.

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EURUSD technical analysis

The pair remains within the “rising flag” pattern. Today it may rise in the short term on the ADP data release, or continue to decline. In the future, however, it is likely to resume growth amid the fundamental weakness of the US dollar. Keep track of the price in real time.

Trading recommendations: if the pair doesn’t stay above 1.1900 from a technical point of view, it will continue to decline to 1.1795. At the same time, if it holds above this level, it will proceed further up to 1.1990.

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Trading ideas for the Adidas AG (XETRA)

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator shows a bullish divergence, and the descending pattern is currently truncated. Keep track of the price 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 truncated pattern.

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^{*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.}

The Australian dollar against the US dollar opens the trading day with an additional bearish tendency to approach the pivotal support 0.7325, and the price needs to consolidate above this level to keep the bullish trend scenario effective for the coming period, as breaking it will cause more decline to test the upside channel support around 0.7230 before any new positive attempt.

So far, we are continuing to suggest the bullish trend, provided it is stable above 0.7325, supported by the moving average 50 and the stochastic indicator, noting that our next main target is at 0.7485.

The expected trading range for today is between 0.7300 support and 0.7420 resistance

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound for the second session from its high since August 19, amid the bounce of the US dollar index for the second consecutive session from its lowest since late April 2018 according to the inverse relationship between them on The cusp of economic developments and data expected today, Wednesday, by the US economy, the largest in the world.

At exactly 05:11 a.m. GMT, gold futures contracts for December delivery fell 0.30% to trade at $ 1,970.80 per ounce, compared to the opening at $ 1,976.80 per ounce, knowing that the contracts started trading on a downward price gap after it was concluded Yesterday's trading was at $ 1,978.90 an ounce, with the US dollar index rising 0.18% to 92.39 compared to the opening at 92.22.

Investors are currently awaiting the US economy to reveal preliminary data for the labor market with the release of the index of change in private-sector jobs, which may reflect the acceleration of job creation to 1,250,000 jobs, compared to 167,000 jobs in July, and this comes hours before the disclosure. The day after tomorrow, Friday, the monthly report on jobs other than agricultural and unemployment rates in addition to the average hourly earnings for the month of August.

This comes before we witness, by the largest industrialized country in the world, the disclosure of the factory orders index reading, which may show a slowdown in the pace of growth to 6.0% compared to 6.2% last June, and this comes before we witness the speech of the members of the Federal Open Market Committee, each of the President of the Bank. New York Federal Reserve John Williams and Cleveland Federal Reserve Chairman Loretta Meester via satellite.

It is expected that Williams will speak at the Bretton Woods Symposium on the Coronavirus, before Meester's speech about the US economic outlook and monetary policy at the National Association for Business Economics symposium, leading to the Fed’s disclosure of the Big Book report, whose importance lies in its being issued two weeks before The meeting of the Federal Open Market Committee, which is scheduled for 15/16 of this month.

Other than that, we followed yesterday, according to Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and White House Health Advisor that there may be a vaccine available for Coronavirus earlier than expected if clinical trials yield very positive results, and according to the latest figures issued by the Health Organization Global, the number of cases infected with Coronavirus has increased to more than 25.3 million, and 848,255 people have died in 216 countries.

Technical analysis

The price of gold faced strong negative pressure yesterday to attack the level of 1967.90, as it closed the daily candlestick above this level, but it starts today with an additional bearish tendency to settle below the aforementioned level now, which provides signs of the price's direction to incur expected losses in the intraday term, especially as it draws a negative pattern Its features are shown in the diagram above.

The contradiction between technical factors makes us prefer stopping on neutrality until we get a clearer signal for the next trend, noting that a break of 1959.00 will complete the aforementioned negative pattern and push the price to visit 1934.86 directly before any new attempt to rise, while breaching the levels of 1967.90 and 1973.50 represents the key to a recovery The main bullish trend, heading towards 2008.80 as a next positive station.

The expected trading range for today is between 1940.00 support and 1990.00 resistance.

The expected overall trend for today: Neutral.

The dollar against the yen is fluctuating around the moving average 50, and stabilizes around the 106.00 barrier, and as long as the price is below 106.44, our expectations for a bearish trend will remain valid for the upcoming period, waiting for a negative stimulus to push the price to resume the decline, whose next main target is at 105.20.

The expected trading range for today is between 105.20 support and 106.44 resistance.

The expected general trend for today: Bearish.

Sberbank share is moving around the resistance 229.77 in an attempt to rise again. After it approached the support of the ascending channel at 224.00, to continue moving within the ascending channel as seen in the chart.

The current price action is between the support level 220.10 and the resistance level 245.57 over the medium period.

While the main targets will be at 216.00 support and 239.00 resistance.

  The moving averages 7-20 are above the price near the level of 233.10 and add pressure on the price for a further decline, while the 50 average remains moving below the price.

General direction of movement: Bullish path.

EURUSD

The pair remains within the "rising flag" pattern. Today it may rise in the short term on the ADP data release, or continue to decline. In the future, however, it is likely to resume growth amid the fundamental weakness of the US dollar.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is at a level of 50%. Stoch are in the oversold zone and are uninformative.

Trading recommendations:

If the pair doesn’t stay above 1.1900 from a technical point of view, it will continue to decline to 1.1795. At the same time, if it holds above this level, it will proceed further up to 1.1990.

GBPNZD

The assumed correction is approaching the 50% Fibo level from the rising wave. A price pivot zone of 1.9634 is also there. If the level holds, a descending truncated pattern will continue to form. The bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition.

Trading recommendations:

Buy strictly when an ascending wave pattern is formed, where the wave (as) breaks through the inclined channel of the descending pattern.

Stop Loss under the local minimum.

Target levels: first take profit at 1k1, and then transfer to breakeven. The second goal is 2.0266.

#ADS

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator shows a bullish divergence, and the descending pattern is currently truncated.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop Loss at the local minimum: 250.00.

Target levels: 263.00; 270.50.

Tuesday, September 1st, today’s news—S&P 500 and Dow had their best August since 1986. European and Asian markets are rising on the positive economic recovery data from China, oil is up 1% as the dollar hits its multi-year lows. The price of Brent oil is $45.71, WTI—$43.02. EUR/USD is at 1.1970, GBP/USD—1.3418, gold is $1,997.15 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

EURCAD analysis

The currency pair is trading in the range of the lower border of the ascending price channel. The descending H8 level pattern ended with the breakout of an inclined channel. Bullish divergence has formed Awesome Oscillator. The price pivot zone of 1.5606 is holding back buyers.

Trading recommendations: buy above 1.5606; Stop Loss: 1.5467; target levels: 1.5750, 1.5973.

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EURUSD technical analysis

The pair is testing the resistance line of the “rising flag” trend continuation pattern. It’s supported by the globally weak US dollar following the Fed’s new inflation target and rising demand for risk assets corporate stocks.

Trading recommendations: the pair will continue to grow either after a corrective pullback down to 1.1950, or immediately after breaking through 1.1985 with the possibility of further growth to 1.2085.

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Trading ideas for Electricite de France (EURUNEXT)

The stock is trading in the range of the lower limit of the ascending price channel. Stochastic Oscillator showed an exit from the oversold zone. A breakout of the resistance level of 8.95 will result in the formation of 1-2-3 (an upward pattern).

Trading recommendations: buy above 8.95; Stop Loss: 8.70; target levels: 9.14, 9.56.

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^{*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.}