21.08. Fresh trading analysis: gold is up, record-breaking American stocks

Friday, August 21st, today’s news—gold is up following an unexpectedly high number of jobless claims in the US. The dollar is once again weaker, the US stock futures to set a new record this week, European markets are trading flat ahead of PMI release. The price of Brent oil is $44.73, WTI—$42.58. EUR/USD is at 1.1811, GBP/USD—1.3197, gold is $1,940.50 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

CHFJPY analysis

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. A start fractal has formed above the 135 moving average, then a correction (signal fractal) began. A breakout of the start fractal will result in the formation of an ascending 1-2-3 pattern within the overall uptrend. Keep track of the price movement in real time.

Trading recommendations: buy above 116.58; Stop Loss: 115.72; target level: 117.42.

See more Start trading

EURUSD technical analysis

The pair found support at 1.1830 thanks to a change in market sentiment on Thursday, despite the high number of jobless claims in the US and weak manufacturing data from the Philadelphia Fed. If the market sentiment improves, the US dollar will weaken across the entire Forex market. Keep track of the rate changes in real time.

Trading recommendations: buy after the pair goes above 1.1900 with a possible further growth to 1.1950, and then to 1.2000.

See more Start trading

Trading Ideas Goldman Sachs Group Inc. (NYSE)

The stock is trading in the range of the lower border of the upward price channel. A descending truncated pattern has formed, confirmed by divergence on Awesome Oscillator and oversold condition on Stochastic Oscillator. Keep track of the rate changes in real time.

Trading recommendations: buy when an upward wave pattern is formed, where wave (A) breaks through the inclined channel of the downward structure, completing it.

See more Start trading

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.}