Analytic reviews

NZDUSD

The overall trend is upward. The pair is trading in the upper bound of the Ichimoku cloud. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals an oversold condition.

NZDUSD rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending 1-2-3 pattern is formed above 0.6564.

Stop Loss: 0.6490.

Target levels: 0.6619; 0.6688.

USDJPY

The pair is trading higher below 106.50 against the background of the weaker dollar ahead of an expectedly important speech from the Fed’s head, Jerome Powell, to be made at the Jackson Hole symposium tomorrow. Drastic measures from the Fed aimed at supporting inflation are expected and may put pressure on the US currency in the near future.

Technical side:

The price is above the middle Bollinger bnad, below SMA 5, but still above SMA 14. Moving averages suggest buying. RSI is below the overbought zone and indicates a weaker growth. Stoch are moving down from the overbought zone.

USDJPY rate online: monitor the price movement in real time.

Trading recommendations:

If the pair goes above 106.50, it may continue further up to 107.00.

Tuesday, August 25, today’s news—in the 2nd quarter, German GDP declined by 9.7% compared to the previous three months, this is the most significant rate of decline since the beginning of accounting for the indicator in 1970. US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin note progress in implementing the first halyard of the US-China trade agreement. The price of Brent oil is $45.77, WTI—$42.59. EUR/USD is at 1.1814. GBP/USD—1.3090, gold is $1,937.60 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

Trading ideas for Arcelor Mittal (EURONEXT)

The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator showed an exit from the oversold zone. A break of 9.96 will result in the formation of an ascending pattern of 1-2-3.

Trading recommendations: buy above 9.96; Stop Loss: 9.52; target levels: 10.50; 11: 00.

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EURUSD technical analysis 

The growing demand for risk in the stock and commodity markets supports the pair. If the US Conference Board index data published today turns out to be no worse than the forecast, this will push the pair back to growth. Keep track of the rate changes in real time.

Trading recommendations: expect the pair to grow up first to 1.1880, and then to 1.1965.

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GBPUSD analysis

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. The descending truncated pattern of the H1 level ended with the breakout of an inclined channel. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator signals an oversold condition.  Keep track of the price movement in real time.

Trading recommendations: buy when an ascending wave pattern is formed above 1.3115; Stop Loss: 1.3016; target levels: 1.3250; 1.3300.

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Useful info and online charts

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.}

The Australian dollar rose against most of the major currencies during trading today, Tuesday, in light of the continuing optimism in the markets regarding vaccines and treatments for the "Corona" virus, despite the continuing high number of infections and deaths.

This comes after the US Food and Drug Agency announced the approval of recovered blood plasma as a treatment method for "Corona" virus.

Australia is one of the countries facing the specter of a second wave of the Corona virus, as the government imposed closures and isolation restrictions on some states, including "Victoria", after the virus spread at a rapid rate.

According to Johns Hopkins University statistics, the number of people infected with the Coronavirus worldwide has reached about 23.7 million cases, while more than 814,000 have died.

Market attention will turn this week towards the "Jackson Hole" meetings, which witness a meeting and discussions between bankers and economists to talk about developments in monetary policies and financial measures to confront Corona.

In terms of trading, the Australian dollar rose against its US counterpart by 03:32 GMT, by 0.2% to 0.7176, and the Australian currency recorded its highest price today at 0.7182, while the lowest price was recorded at 0.7155.

Technical analysis

The Australian dollar against the US dollar stabilizes below the broken support of the bullish intraday channel, and the moving average 50 forms continuous negative pressure against the price, which keeps the bearish trend scenario valid for the upcoming period, whose next main target is at 0.7065, while stability below 0.7243 represents an important condition. To achieve.

The expected trading range for today is between 0.7100 support and 0.7200 resistance.

The expected general trend for today: Bearish.

The euro rose marginally against most of the major currencies during trading Tuesday, in light of optimism regarding trade relations between the United States and China.

As a result of this optimism, pressure was placed on the US dollar and investors resorted to risk assets such as the stock and currency markets.

This comes after an official statement in which the US Department of Commerce announced the launch of important discussions and consultations with high-level Chinese officials to ease tensions and the first phase of the trade agreement concluded in mid-January.

Market attention will turn later this week towards the "Jackson Hole" meeting to discuss bankers and economists the most prominent developments in terms of monetary and financial policies to confront the repercussions of Corona.

The "Financial Times" newspaper reported that the administration of US President "Donald Trump" is studying an emergency use of the vaccine by "AstraZeneca" and the University of "Oxford" against "Corona", before the presidential elections scheduled for November.

In terms of trading, the euro rose against the dollar by 06:48 GMT by 0.2% to 1.1809, and the highest price was recorded at 1.1817 and the lowest price was at 1.1785.

Technical analysis

The euro against the dollar ended trading yesterday below the 1.1800 barrier after the decline it witnessed in the past sessions, and today the bullish trend begins to test the resistance of the intraday descending channel again, and the price needs to consolidate below this resistance as a first condition for the continuation of the negative scenario during the coming period, which targets 1.1680 Mainly.

Thus, the bearish trend will remain valid and effective for today, as long as the price did not push to breach 1.1810 then 1.1885 and hold above it.

The expected trading range for today is between 1.1700 support and 1.1880 resistance.

The expected general trend for today: Bearish.

Gazprom is steady in the movement around the support level 186.00, as it continues moving within the descending channel that is shown on the chart.

The price is now moving below the 20-50 averages that form resistance levels and pressurize it to decline.

While we have major resistance at 202.70 and major support at 158.75.

We see that the stochastic oscillator begins to exit the oversold area and moves within an upward path, thus indicating the strength of the support level, and will pressure the price to return to the upside and test the resistance at the 50 moving average.

The price action will be between the support level 158.75 and the resistance level 202.20.

The general direction of the movement is bearish.

Gold prices rose during trading today, Tuesday, to offset some of the losses it incurred in the Monday session, and the precious metal benefited from the dollar’s ​​decline against most major currencies.

Reuters reported on discussions between high-ranking officials from both the United States and China to calm tensions and strengthen economic policies.

The US Department of Commerce announced that these discussions took place by phone without giving details, but the statement confirmed that the discussions came within the consultations of the first phase of the trade agreement concluded on January 15th between the two largest economies in the world.

The precious metal futures contract for December delivery closed yesterday's session down 0.4%, or the equivalent of $ 7.80, to close at $ 1939.20 an ounce, the lowest closing level since the 27th of last July.

In a related context, the dollar index fell (against a basket of major currencies) by 05:15 GMT by 0.2% to 93.1 points, and recorded the highest level at 93.3 points and the lowest level at 93.1 points.

In terms of trading, spot gold rose, by 05:25 GMT, by 0.2% to 1943.1 dollars an ounce, and the metal recorded the highest price at 1944.1 dollars and the lowest price at 1932.6 dollars.

Technical analysis

Gold price made attempts to breach 1929.50 yesterday, but closed the daily candle above it, to start today with a bullish tendency in an attempt to divert from this level, which provides indications on the price's direction to recover during the upcoming sessions, on its way to initially test the 1967.90 level.

Therefore, a bullish bias will be likely for today, and a breach of the target will push the price to 2008.80 as a next stop, bearing in mind that any new break to 1929.50 will press the price to decline strongly and head towards levels of 1901.80 then 1860.90 as the main negative targets.

The expected trading range for today is between 1910.00 support and 1968.00 resistance.

The expected general trend for today: Bullish.

The yen stabilized negatively against the US dollar during trading on Tuesday, as the Japanese currency came under pressure following negative data.

Government data showed that the consumer price index remained stable at its core value - excluding energy and food prices - a reading issued by the Bank of Japan, compared to expectations of a 0.1% rise in the index.

Japan suffers from a high number of infections with the "Corona" virus, as health sources reported that Tokyo is exposed to a second wave of infections.

The US Department of Commerce announced the launch of important discussions and consultations with high-ranking Chinese officials to calm tensions and talk about the first phase of the trade agreement concluded in mid-January.

The administration of US President "Donald Trump" is studying the emergency use of vaccine experiments by "AstraZeneca" and the University of "Oxford" before the presidential elections scheduled to be held in November.

In terms of trading, the US dollar stabilized against the Japanese yen by 07:15 GMT at 106.03, and recorded the highest price at 106.05 and the lowest price at 105.8.

Technical analysis

The dollar versus yen pair continues to fluctuate around 106.00 and is still below it. We note that the stochastic indicator continues to provide negative signals, which supports the continuation of our expectations for the downside for the coming period, targeting 105.20 initially.

Consolidation below 106.44 is important for the continuation of the suggested decline, while breaking 105.20 represents the key to the rally towards 103.65 as a next major stop.

The expected trading range for today is between 105.00 support and 106.50 resistance.

The expected general trend for today: Bearish.

EURUSD
The growing demand for risk in the stock and commodity markets supports the pair. If the US Conference Board index data published today turns out to be no worse than the forecast, this will push the pair back to growth.
Technical side:
The price is below the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the level of 50%, but it is growing. Stoch indicate a weakening of the downward dynamics.
EURUSD rate online: monitor the price movement in real time.

Trading recommendations:
Expect the pair to grow up first to 1.1880, and then to 1.1965.

GBPUSD

 The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. The descending truncated pattern of the H1 level ended with the breakout of an inclined channel. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator signals an oversold condition.

GBPUSD rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending wave pattern is formed above 1.3115.

Stop Loss: 1.3016.

Target levels: 1.3250; 1.3300.