Daily trading analysis for June 11, 2020
Thursday, June 11th—today's news: the Fed intends to keep interest rates close to zero through 2022. Dow Jones futures lost over 500 points, oil prices drop amid the weak growth in demand. EUR/USD is at 1.1389, GBP/USD—1.2708; Brent oil is $40.39 per barrel, gold is $1,741.15. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
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AUDNZD analysis
IThe overall trend is upward. The currency pair is trading in the range of the support level of 1.0660. Stochastic Oscillator signals oversoldness. A breakout of 1.0726 will result in the formation of a 1-2-3 uptrend within the overall uptrend. Keep track of the rate changes in real time.
Trading recommendations: buy above 1.0726; stop loss: 1.0660; target levels: 1.0820, 1.0880.
Trading ideas for Volkswagen AG (XETRA)
The overall trend is upward. The support level of 141.50 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. Keep track of the rate changes in real time.
Trading recommendations: buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.
AUDUSD technical analysis
The pair corrected down within the general trend, as the market ended this month’s rally and correced down before a new wave of growth. Political tensions between China and Australia are also a negative factor for the currencey. Expect the pair to continue correcting down until the next positive news release. Keep track of the rate changes in real time.
Trading recommendations: decline below 0.6900 will lead to a correction drop to 0.6825.
Useful info and online charts
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.
