Expert review round-up: Daily trading analysis during the crisis
Friday, March 20th—the news of the day: California governor issues a stay-at-home order, G7 leaders will meet via video conference over coronavirus fears. Current rates: EUR/USD is at 1.0782, GBP/USD—1.1871, both rising. The price of Brent oil has reversed upwards, now is $30.45 per barrel. Dow Jones Industrial Average and NASDAQ have resumed growth. 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 declining amid lower market tensions, large-scale stimulus measures from central banks, weaker dollar and rising oil prices. Keep track of the USDCAD rate changes in real time.
Trading recommendations: the price is below 1.4415. The pair has the potential for a local drop to 1.4150
EURAUD analysis
The overall trend is upward. The downward truncated H1 level pattern tested the range of 365 and 135 moving averages. Stochastic Oscillator signals oversoldness. Keep track of the EURAUD rate changes in real time.
Trading recommendations: buy strictly on the current uptrend while an ascending wave pattern is forming, where the wave (as) breaks through the inclined channel of the descending truncated H1 level pattern, completing it.
Trading ideas for Intel Corp. (NASDAQ)
The Fed has introduced a number of measures to support the US economy, including QE. At the same time, the stock market is still at very low levels. Keep track INTC of the rate changes in real time.
Trading recommendations: buy above the resistance level of 48.80; Stop Loss: 43.00; target levels: 53.36; 59.00.
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.
