Daily trading analysis for June 22, 2020
Monday, June 22nd, today’s news — Spain opens borders to residents of the EU. The US banks are «swimming in money»: the FDIC reported a record increase in bank deposits, this figure has increased by $ 2 trillion, since the beginning of 2020. This may lead to a reduction in the already minimal interest rates. Brent oil is $42.08 per barrel, WTI —$39.64. EUR/USD is at 1,12; GBP/USD —1,238; gold is $1.764, 95. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
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EURUSD analysis
The overall trend is upward. The descending truncated pattern of the H2 level has formed in the wave (C), where the truncated pattern of the H1 level was also formed. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator signals oversoldness.
The EURUSD rate online: monitor the movement of the pair in real time.
Trading recommendations: buy while an ascending wave pattern is forming, where the wave (A) breaks through the inclined channel of the descending truncated pattern of the H1 level.
EURUSD technical analysis
The pair is in a short-term downtrend amid the falling demand for risky assets as a result of the outbreak of the coronavirus pandemic in China and the extinct epidemic in the US. But today, it can recover due to the growth in the stock market in China and the same likely dynamics in the US as indicated by futures on US stock indexes.
Technical side:
The price is below the middle Bollinger band, at SMA 50 and below SMA 14. RSI is below the 50% level and moves horizontally. Stoch indicate a weakening of the price decline.
The EURUSD rate online: monitor the movement of the pair in real time.
Trading recommendations: the growth of the pair above 1.1200 may lead to its local recovery to the 1.1240.
Trading ideas for PJSC Gazprom
The support level of 191.60 is holding back sellers. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator shows the intersection of moving averages in the oversold zone. A breakout of 196.10 will result in the formation of an ascending 1-2-3 pattern.
The #GAZPROM shares rate online: monitor the movement of the shares in real time.
Trading recommendations: buy above 196.10; stop loss: 191.60; target levels: 199.00; 206.20.
Useful info and online charts
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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.
