years on the market
Tuesday, August 4th, today’s news—EU markets are down, British Petroleum cuts dividends for the first time since 2010, stock prices of Diageo and Bayer fall amid weak earnings reports. The US markets continue to rise led by tech corporations, while the dollar weakens, and Treasury yields fall. The price of Brent oil is $43.66, WTI—$40.54. EUR/USD is at 1.1798, GBP/USD—1.3077, gold is $1,982.10 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The pair holds above 1.1740 amid the positive economic data from Europe, which helped stoke optimism among investors over the region’s economic recovery and even growth. Keep track of the price movement in real time.
Trading recommendations: the pair may grow to 1.1900, if positive market sentiment persists.
The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. A breakout of the support level 0.9165 will result in the formation of a 1-2-3 descending pattern. Stochastic Oscillator showed an exit from the overbought zone. Keep track of the rate changes in real time.
Trading recommendations: sell below 0.9165; Stop Loss: 0.9242; target levels: 0.9117, 0.9059.
The overall trend is upward. 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 breakout of 10.14 will result in the formation of an ascending pattern of 1-2-3.
Trading recommendations: buy above 10.14; Stop Loss: 9.89; target levels: 10.38, 10.80.
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*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.