20.07.2020
Monday, July 20th, today’s news—Florida reports over 10,000 new coronavirus cases for the fifth consecutive day, with no lockdown. European markets await the conclusion of the prolonged EU summit on the economic recovery fund, the euro is rising on optimism, the stock market is down due to the delay. The price of Brent oil is $42.83, WTI—$40.42. EUR/USD is at 1.1461, GBP/USD—1.2582, gold is $1,811.00 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
In the new video by our Chief Analyst Vladimir Rojankovski, we'll be looking at the latest developments in the US stock market. Subscribe to our YouTube channel and never miss an update!
The currency pair is trading in the range of the upper border of the descending price channel. Stochastic Oscillator indicates an overbought condition, while Awesome Oscillator indicates a bearish divergence. The ascending H1 level pattern is truncated. Keep track of the price movement in real time.
Trading recommendations: sell when a descending wave pattern is formed; Stop Loss: 1.3600; target levels: 1.3525, 1.3501.
The stock is trading in the upper limit of the descending channel and the price pivot zone of 0.03485, which now serves as a resistance level. A bullish divergence has formed on Awesome Oscillator, and the moving averages of the Stochastic Oscillator are moving upwards from the oversold zone. Keep track of the rate changes in real time.
Trading recommendations: buy above the price pivot zone of 0.03485; Stop Loss: 0.03416; target levels: 0.03580, 0.03740.
The pair remains in a very narrow range of 106.60–108.00 amid the uncertainty over the global economic growth. The yen, as a safe haven currency, clearly shows this by its consolidating in this range. This trend is likely to continue for some time. Keep track of the rate changes in real time.
Trading recommendations: if the pair doesn’t pass the level of 107.50, it will correct down to 106.85.
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.
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