years on the market
Wednesday, July 1st, today’s news—two major airlines, Air France and Airbus, announced large-scale job cuts due to the persisting crisis in the air transport sector. The forecast is not optimistic: the companies won't regain pre-crisis values until 2023. EUR/USD is at 1.1231; GBP/USD—1.2395; Brent oil is $42.41 per barrel, WTI—$40.39; gold is $1,805.25. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
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The currency pair is trading within the range of the round important level 1.0700 and the upper border of a descending price channel. If the round secondary level 1.0680 is breached, this will result in the formation of a 1-2-3 descending pattern. Keep track of the rate changes in real time.
Trading recommendations: sell below the round secondary level 1.0680 when the 1-2-3 descending pattern is formed.
The stock is trading within the range of the lower border for an ascending price channel. Stochastic Oscillator indicates an oversold situation. The price pivot level 0.03550 deters bulls, while Awesome Oscillator shows a bullish divergence. Keep track of the rate changes in real time.
Trading recommendations: buy above the price pivot level 0.03550; Stop Loss: 0.03482; target levels: 0.0374, 0.0396.
The pair continues to consolidate amid the flat trend in the crude oil market triggered by the uncertainty surrounding the coronavirus pandemic, as well as by the demand for crude oil and the pace of global economic recovery associated with it. Keep track of the rate changes in real time.
Trading recommendations: if the pair goes below 1.3560, it will be likely to continue further down to 1.3480.
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.