15.07. Fresh trading analysis: US indices and stock market
Tuesday, July 14th, today’s news—Dow futures rise 200 points as Moderna reports successful coronavirus vaccine trial. This also positively affects the EU markets, oil recovers from a drawdown, Asian markets under pressure amid the US-China tensions. The price of Brent oil is $43.45, WTI—$40.87. EUR/USD is at 1.1436, GBP/USD—1.2610, gold is $1,816.35 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
Video review: US indices
The latest from the US stock market in the new video by our Chief Analyst Vladimir Rojankovski. Subscribe to our YouTube channel and never miss an update!
GBPUSD analysis
The ascending M30 level pattern ended with the breakout of an inclined channel. This is probably a wave (In H2) of the descending H2 level pattern. Stochastic Oscillator indicates an overbought situation. A start fractal has formed below 135 EMA, the breakdown of which will result in the formation of a descending wave pattern within the wave (C) of the descending H2 level pattern. Keep track of the price movement in real time.
Trading recommendations: sell below 1.2562; Stop Loss: 1.2667; target levels: 1.2483, 1.2436.
EURUSD technical analysis
The pair continues to rally amid hopes of the EU reaching an agreement on the economic recovery fund. Another factor contributing to the pair’s growth is the dollar weakened by the rising demand for risk assets. Keep track of the rate changes in real time.
Trading recommendations: after reaching the local maximum of 1.1415, the pair may correct down to 1.1360 before continuing to rise to 1.1500.
Trading ideas for PJSC Sberbank
The overall trend is upward. The stock is trading in the range of 365 and 150 moving averages. A breakout of the resistance level of 209.55 will result in the formation of ascending pattern 1-2-3. Also, Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.
Trading recommendations: buy above 209.55; Stop Loss: 202.70; target levels: 221.00, 229.34.
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.
