20.08. Fresh trading analysis: the Fed's meeting and global markets

Thursday, August 20th, today’s news—the Fed's meeting minutes signal a pessimistic outlook for the economic recovery. This caused negative trends in American, European and Asian markets; dollar is stronger after the regulator indicated no policy changes, gold is down; the US and China to hold trade talks in the next few days. The price of Brent oil is $44.98, WTI—$42.73. EUR/USD is at 1.1837, GBP/USD—1.3111, gold is $1,941.15 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

GOLD Spot technical analysis

The price of gold is correcting down for two reasons. Firstly, the asset is technically overbought, secondly, there’s an increase in demand for stocks with potentially bigger profits in the future. Expect that the gold to remain under $2,000 per ounce. Keep track of the price movement in real time.

Trading recommendations: if the price falls below 1927.50, it will likely go further down to 1875.00.

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EURJPY analysis

The overall trend is upward. A descending truncated H2 level pattern has formed. Awesome Oscillator indicates a bullish divergence. The currency pair is trading in the range of 365 and 135 moving averages. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated H2 level pattern.

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Trading ideas for the Boeing Co. (NYSE)

The support level of 168.80 continues to hold back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending wave pattern is formed; Stop Loss under the support level of 168.80; target levels: 189.26, 197.20.

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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.}