Daily trading analysis for May 27, 2020
Wednesday, May 27th—today's news: EU to announce a new economic stimulus package. The US stocks and the dollar are rising, Asian markets are under pressure amid the US-China tensions. EUR/USD is at 1.0959, GBP/USD—1.2304; Brent oil is $35.80 per barrel, gold is $1,694.85. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
GBPCHF analysis
A false breakdown has formed. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator showed an exit from the overbought zone. Breaking through the support level of 1.1894 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 1.1894; stop loss: 1.1960; target levels: 1.1852, 1.1818, 1.1775.
USDCAD technical analysis
The pair dropped below the strong support level of 1.3860, where it has been trading recently. The increase in crude oil prices amid the renewed economic activity as countries lift lockdowns supports the demand for risk assets and crude oil, while pressuring the US dollar. Keep track of the rate changes in real time.
Trading recommendations: sell the pair after it goes below 1.3755, with a likely fall to 1.3620.
Trading ideas of the Coca-Cola Company (NYSE)
The US economy is recovering from a severe fall caused by the pandemic. The price pivot zone of 46.67 holds back buyers, if the price fixes above it, there will be an opportunity for further growth. Stochastic Oscillator moving indicators showed an exit from the oversold zone and are directed upwards. Keep track of the rate changes in real time.
Trading recommendations: buy above 46.67; stop loss: 43.23; target levels: 49.70, 51.50.
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.
