Daily trading analysis for April 2, 2020
Thursday, April 2nd—today's news: JPMorgan experts say the markets should be concerned about the second wave of the new coronavirus pandemic. European markets are trading flat, the US are in anticipation of the new unemployment data. EUR/USD is at 1.0920, GBP/USD—1.2417; Brent oil is $23.52 per barrel, gold is $1,587.49. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
USDSEK analysis
The overall trend is upward. The descending truncated H4 level pattern ended with a breakout of the inclined channel. Bullish divergence has formed on Awesome Oscillator. A breakout of 10.0845 will result in the formation of an ascending H1 level pattern within the overall uptrend. Keep track of the rate changes in real time.
Trading recommendations: buy above 10.0845; stop loss: 9.8620; target levels: 10.2118 (close the order and transfer to breakeven), 10.4580.
USDCAD technical analysis
The pair is gradually declining amid the strong growth in crude oil prices which rose more than 10%. The positive opening in Europe, as well as the positive movement of the US stock index futures, may support a further local decline of the pair. In general, a flat trend is expected in the near future in the currency market. Keep track of the rate changes in real time.
Trading recommendations: sell the pair after it goes below 1.4060 with the local target of 1.3930.
Trading ideas for Johnson & Johnson (NYSE)
The overall trend is downward. The stock is trading in the range of the upper limit of the downward price channel. Stochastic Oscillator signals overboughtness. A breakout of the price pivot zone 126.12 will result in the formation of a downtrend 1-2-3 within the general downtrend. Keep track of the rate changes in real time.
Trading recommendations: sell below 126.12; stop loss: 134.00; target levels: 120.00; 109.33.
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.
