years on the market
Tuesday, May 26th—today's news: Dow futures are rising amid the optimism over the coronavirus vaccine. Investors move away from safe havens, European stocks are also trading higher. EUR/USD is at 1,0948, GBP/USD—1.2291; Brent oil is $35.84 per barrel, gold is $1,724.75. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The 0.9700 support level is holding back sellers. A descending truncated pattern has formed, which may be a wave B of an ascending pattern of a larger wave level. Stochastic Oscillator signals oversoldness. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending pattern is formed, where wave A breaks through the inclined channel of the descending truncated pattern.
The pair is still trading below the strong resistance level of 72.50. It’s under pressure because of the renewed demand for risk assets as countries continue to ease restrictions, as well as the rising crude oil prices. Another positive factor for the ruble are currency sales by the Central Bank in accordance with a fiscal rule: the bank sells the currency when the oil price is below $40 per barrel. Keep track of the rate changes in real time.
Trading recommendations: sell the pair after it crosses 71.20 with a probable fall to 70.00.
The support level 144.00 holds back sellers. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness. An inclined channel is formed on a descending wave pattern. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where wave A breaks through the inclined channel of the descending 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.