Daily trading analysis for April 15
Wednesday, April 15th—today's news: the US suspended funding for WHO. European markets are weaker due to the economic impact of the pandemic, the US dollar index is rising amid the global economic crisis. EUR/USD is at 1.0933, GBP/USD—1.2511; Brent oil is $26.31 per barrel, gold is $1,716.13. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
USDCAD technical analysis
The pair is correcting upward in anticipation of the final monetary policy decision by the Bank of Canada. It also supports the correction of crude oil prices.The pair may receive local support due to these two factors before turning down again. Keep track of the rate changes in real time.
Trading recommendations: expect a local growth to 1.4080 before the pair turns down again due the resumed growth of oil prices.
USDJPY analysis
The overall trend is upward. The support level of 106.87 is holding back sellers. A bullish divergence forms on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. The downward H8 level pattern is truncated. Keep track of the rate changes in real time.
Trading recommendations: buy while an ascending pattern is forming, where the wave (AC) breaks through the inclined channel of the descending truncated level H8 pattern, thereby completing it.
Trading ideas for Caterpillar Inc. (NYSE)
The 129.00 resistance level is holding back the bulls. Stochastic Oscillator signals overboughtness. Breaking through the support level of 113.60 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 113.60; stop loss: 129.00; target: 91.00.
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.
