years on the market
Monday, April 13th—today's news: oil rises following the historic production cut deal by OPEC+. Number of new coronavirus cases in China rises above 100 for the first time in five weeks, Dow Jones is falling amid the oil news and the effects of the pandemic in the US. EUR/USD is at 1.0934, GBP/USD—1.2513; Brent oil is $28.74 per barrel, gold is $1,688.92. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The general trend is upward. Support level 1.3920 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. A downward truncated H8 level pattern has formed. Keep track of the rate changes in real time.
Trading recommendations: buy while an ascending pattern is forming, where wave (A) breaks through an inclined channel of a descending truncated H8 level pattern.
The pair is trading higher amid the strengthening demand for commodity assets as the economic activity in China is recovering, and investors expect the coronavirus pandemic to peak and subsequently recede. This will only contribute to the strengthening of the Australian currency. Keep track of the rate changes in real time.
Trading recommendations: the price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and moves horizontally. Stoch are turning up.
The general trend is upward. Support level 1.3920 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. A downward truncated H8 level pattern has formed. Keep track of the rate changes in real time.
Trading recommendations: buy while an ascending pattern is forming, where wave (A) breaks through an inclined channel of a descending truncated H8 level pattern.
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.