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Friday, August 21st, today’s news—gold is up following an unexpectedly high number of jobless claims in the US. The dollar is once again weaker, the US stock futures to set a new record this week, European markets are trading flat ahead of PMI release. The price of Brent oil is $44.73, WTI—$42.58. EUR/USD is at 1.1811, GBP/USD—1.3197, gold is $1,940.50 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

CHFJPY analysis

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. A start fractal has formed above the 135 moving average, then a correction (signal fractal) began. A breakout of the start fractal will result in the formation of an ascending 1-2-3 pattern within the overall uptrend. Keep track of the price movement in real time.

Trading recommendations: buy above 116.58; Stop Loss: 115.72; target level: 117.42.

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EURUSD technical analysis

The pair found support at 1.1830 thanks to a change in market sentiment on Thursday, despite the high number of jobless claims in the US and weak manufacturing data from the Philadelphia Fed. If the market sentiment improves, the US dollar will weaken across the entire Forex market. Keep track of the rate changes in real time.

Trading recommendations: buy after the pair goes above 1.1900 with a possible further growth to 1.1950, and then to 1.2000.

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Trading Ideas Goldman Sachs Group Inc. (NYSE)

The stock is trading in the range of the lower border of the upward price channel. A descending truncated pattern has formed, confirmed by divergence on Awesome Oscillator and oversold condition on Stochastic Oscillator. Keep track of the rate changes in real time.

Trading recommendations: buy when an upward wave pattern is formed, where wave (A) breaks through the inclined channel of the downward structure, completing it.

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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 fluctuated in a narrow range slanting to an upside during the Asian session, to witness its rebound for the second consecutive session from the lowest since August 14, and to promise its ninth consecutive weekly gains against the US dollar following developments and economic data that we followed on the Australian economy and on the cusp of Economic developments and data expected on Friday by the US economy, the largest in the world.

At 04:12 am GMT, the Australian dollar against the US dollar rose 0.15% to 0.7203 levels compared to opening levels at 0.7192, after the pair achieved its highest level during the session's trading at 0.7216, while the lowest level is at 0.7187.

We have continued to unveil the preliminary readings of the Industrial and Service Purchasing Managers' Index (PMI) Markit from Australia, which clarified the reading. The expansion of the industrial sector decreased to 53.9 compared to 54.0 in July, and the service sector shrank to 48.1 compared to an expansion of 58.2 in July. In July, this came before the retail sales reading showed growth accelerated to 3.3, from 2.7% in June.

On the other hand, the markets are awaiting the release of the preliminary reading of the Industrial and Service Purchasing Managers' Index, Markit, on America, which may reflect the expansion of the industrial sector in the largest industrial country in the world to 51.9 compared to 50.9 in July, and the service sector to 50.9 compared to 50.0, before The Existing Home Sales Index reading showed an increase of 14.7% to 5.40 million homes, compared to a 20.7% rise, at 4.72 million in June.

Other than that, we followed, last Wednesday, the Federal Reserve’s disclosure of the minutes of the FOMC meeting held on July 28-29 in which monetary policymakers at the Federal Reserve addressed the fact that the current situation surrounding the Corona pandemic could "severely affect Economic activity, employment and inflation are in the near term and pose significant risks to the economic outlook in the medium term. "

Technical analysis

The Australian dollar against the US dollar found it difficult to confirm the breach of the support of the bullish intraday channel, to show some slight bullish tendency, noting that the stochastic indicator lost its positive momentum to enter overbought areas, waiting to stimulate the price to resume the expected bearish trend for the coming period, which targets the level 0.7065 as a first stop.

On the other hand, we should note that breaching 0.7243 and building a base above it will stop the expected decline and lead the price to resume the main bullish trend again.

The expected trading range for today is between 0.7130 support and 0.7240 resistance.

The expected general trend for today: Bearish.

The single currency, the euro, fluctuated in a narrow, upward sloping range during the Asian session, to witness its retracement to the seventh session in eight sessions from its lowest since the third of August, and to prepare for the longest weekly gain rally since the second half of 2004 against the US dollar on the cusp of economic developments and data. Expected Friday by the economies of the euro area and the US economy, the largest economy in the world.

At 06:13 AM GMT, the euro pair rose against the US dollar by 0.15% to 1.1878 levels, compared to the opening levels at 1.1860, after the pair achieved its highest level during the session's trading at 1.1879, while it reached its lowest level at 1.1856.

The markets are currently awaiting both the French economy, the second-largest economy in the eurozone, and the German economy, the largest in the eurozone, in addition to the economies of the region as a whole. The region as a whole.

On the other hand, the markets are awaiting the release of the preliminary reading of the Markit Industrial and Service Purchasing Managers Index on America, which may reflect the expansion of the industrial sector in the largest industrial country in the world to 51.9 compared to 50.9 in July, and the service sector to 50.9 compared to 50.0, before The Existing Home Sales Index reading showed an increase of 14.7% to 5.40mn homes, compared to a 20.7% rise at 4.72mn in June.

Other than that, we followed, last Wednesday, the Federal Reserve’s disclosure of the minutes of the FOMC meeting held on July 28-29 in which monetary policymakers at the Federal Reserve addressed the fact that the current situation surrounding the Corona pandemic could "severely affect Economic activity, employment and inflation are in the near term and pose significant risks to the economic outlook in the medium term. "

Technical analysis

The EUR / USD pair continues providing positive trading, gradually moving away from the support of the ascending channel, which supports the continuation of the bullish trend scenario in the intraday and short term, supported by the MA 50, reminding you that our next main target extends to 1.2070.

On the other hand, it should be noted that a break of 1.1840 and stability below it will put the price under negative pressure targeting the test of 1.1710 areas and may extend to 1.1665 before any new attempt to rise.

The expected trading range for today is between 1.1800 support and 1.1980 resistance.

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range that tends to rise, to witness its rebound to the sixth session in eight sessions from its lowest since July 23, with the dollar index declining according to the inverse relationship between them before the developments and economic data expected today, Friday, by the US economy, following the announcement by Pfizer And Bio-n-Tech reported that their joint coronavirus vaccine was in a way for regulatory review by early October, and the Chinese Ministry of Commerce reported the imminent resumption of trade talks between Washington and Beijing.

At 04:20 a.m. GMT, gold futures contracts for next December delivery rose 0.13% to trade at $ 1,958.20 an ounce compared to the opening at $ 1,955.60 an ounce, knowing that the contracts started the session on a rising price gap after it closed Yesterday's trading at $ 1,946.50 an ounce, with the US dollar index declining 0.07% to 92.64 compared to the opening at 92.71.

The markets are awaiting the unveiling of the preliminary reading of the Industrial and Service Purchasing Managers' Index, Markit from the United States, which may reflect the expansion of the industrial sector in the largest industrial country in the world to 51.9 compared to 50.9 in July, and the expansion of the service sector to 50.9 compared to 50.0 before the reading showed The Existing Home Sales Index rose 14.7% to 5.40 million homes, compared to a 20.7% rise, at 4.72 million homes last June.

Other than that, we followed, last Wednesday, the Federal Reserve’s disclosure of the minutes of the FOMC meeting held on July 28-29 in which monetary policymakers at the Federal Reserve addressed the fact that the current situation surrounding the Corona pandemic could "severely affect Economic activity, employment and inflation are in the near term and pose significant risks to the economic outlook in the medium term. "

Technical analysis

Gold price maintains its cohesion above 1934.86 and begins to offer positive trades in an attempt to divert from the aforementioned level, thus maintaining the bullish trend scenario valid for the upcoming period, waiting for the breach of 1967.90 to open the way for a visit to 2008.80 as a next main station.

Consequently, we await more upside during the coming sessions, noting that a break of 1934.84 will pressure the price to incur additional losses that start at 1901.80 before any new positive attempt.

The expected trading range for today is between 1930.00 support and 2000.00 resistance.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement to the fifth session in seven sessions from its high since July 23 against the Japanese yen following the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments and data expected today, Friday before. The American economy is the largest in the world.

At exactly 07:54 am GMT, the US dollar against the Japanese yen decreased by 0.19% to 105.60 levels compared to the opening levels at 105.80, which is the highest level for the pair during the session's trading, while the pair achieved its lowest level during the session's trading at 105.56.

We followed up on the Japanese economy revealing inflation data with the release of the annual reading of the national consumer price index, which showed an acceleration of growth to 0.3% compared to 0.1% in the previous annual reading for the month of June, while the annual reading of the same index, excluding fresh food, showed the stability at levels Zero, little changed from the previous annual reading, below expectations of 0.1% growth.

In the same context, the annual CPI reading, excluding energy and fresh food, reflected the stability of growth at 0.4% in the previous annual reading for the month of June, and this came before we witnessed Markit's disclosure of the preliminary reading of the manufacturing PMI on Japan, which showed a contraction of To a value of 46.6 compared to 45.2 last July, contrary to expectations that indicated the expansion of the contraction to 45.0.

On the other hand, the markets are awaiting the release of the preliminary reading of the Markit Industrial and Service Purchasing Managers Index on America, which may reflect the expansion of the industrial sector in the largest industrial country in the world to 51.9 compared to 50.9 in July, and the service sector to 50.9 compared to 50.0, before The Existing Home Sales Index reading showed an increase of 14.7% to 5.40mn homes, compared to a 20.7% rise at 4.72mn in June.

Other than that, we followed, last Wednesday, the Federal Reserve’s disclosure of the minutes of the FOMC meeting held on July 28-29 in which monetary policymakers at the Federal Reserve addressed the fact that the current situation surrounding the Corona pandemic could "severely affect Economic activity, employment and inflation are in the near term and pose significant risks to the economic outlook in the medium term. "

Technical analysis

The dollar against the yen has resumed its negative trading noticeably, approaching our awaited target at 105.20, which maintains our bearish expectations valid for the upcoming period, supported by the negative pressure formed by the SMA 50, noting that breaking the aforementioned level will extend the downside wave to reach 103.65 as a major station deification.

On the other hand, we should note that the continuation of the bearish wave depends on stability below 106.44.

The expected trading range for today is between 104.80 support and 106.20 resistance.

The expected general trend for today: Bearish.

МТС share continues moving around the resistance level 340.00 after it managed to breach it and the stock rose to the upside, after it broke through several resistance levels and the moving averages level 7-20-50.

As the price stabilizes by moving above the 20-50 moving averages, which have become support levels for the price.

It constitutes a positive incentive for the continuation of the movement within the ascending channel within which the price is moving.

The stochastic oscillator is moving downward after it exited from the overbought zone, and this is reflected in the price, as it is testing the 340.20 support

The expected trading range is between 301.40 support and 350.50 resistance

The expected general trend for today: Bullish.

CHFJPY
The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. A start fractal has formed above the 135 moving average, then a correction (signal fractal) began. A breakout of the start fractal will result in the formation of an ascending 1-2-3 pattern within the overall uptrend.
CHFJPY rate online: monitor the price movement in real time.

Trading recommendations:

Buy above 116.58.

Stop Loss: 115.72.

Target level: 117.42.

EURUSD 

The pair found support at 1.1830 thanks to a change in market sentiment on Thursday, despite the high number of jobless claims in the US and weak manufacturing data from the Philadelphia Fed. If the market sentiment improves, the US dollar will weaken across the entire Forex market.

Technical side:

The price is below the middle Bollinger band, above the SMA 5, but still below the SMA 14. RSI is above the 50% level. Stoch are in the overbought zone and indicate a weaker growth.

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

Trading recommendations:
Buy after the pair goes above 1.1900 with a possible further growth to 1.1950, and then to 1.2000.

#GS

The stock is trading in the range of the lower border of the upward price channel. A descending truncated pattern has formed, confirmed by divergence on Awesome Oscillator and oversold condition on Stochastic Oscillator.

#GS rate online: monitor the price movement in real time.

Trading recommendations:
Buy when an upward wave pattern is formed, where wave (A) breaks through the inclined channel of the downward structure, completing it.

Stop Loss below the support level 196.36.

Target levels: 210.15; 216.00.

Thursday, August 20th, today’s news—the Fed's meeting minutes signal a pessimistic outlook for the economic recovery. This caused negative trends in American, European and Asian markets; dollar is stronger after the regulator indicated no policy changes, gold is down; the US and China to hold trade talks in the next few days. The price of Brent oil is $44.98, WTI—$42.73. EUR/USD is at 1.1837, GBP/USD—1.3111, gold is $1,941.15 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

GOLD Spot technical analysis

The price of gold is correcting down for two reasons. Firstly, the asset is technically overbought, secondly, there’s an increase in demand for stocks with potentially bigger profits in the future. Expect that the gold to remain under $2,000 per ounce. Keep track of the price movement in real time.

Trading recommendations: if the price falls below 1927.50, it will likely go further down to 1875.00.

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EURJPY analysis

The overall trend is upward. A descending truncated H2 level pattern has formed. Awesome Oscillator indicates a bullish divergence. The currency pair is trading in the range of 365 and 135 moving averages. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated H2 level pattern.

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Trading ideas for the Boeing Co. (NYSE)

The support level of 168.80 continues to hold back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending wave pattern is formed; Stop Loss under the support level of 168.80; target levels: 189.26, 197.20.

See more Start trading

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.}