26.08. Fresh trading analysis: gold is up, Jerome Powell speech in focus

Wednesday, August 26th, today’s news—gold is up amid the pessimistic data from the US, consumer confidence index and unemployment fears. The dollar is stronger, oil is up following an output cut by the US, European markets await the speech from the Fed's head Jerome Powell. The price of Brent oil is $46.37, WTI—$43.33. EUR/USD is at 1.1815, GBP/USD—1.3152, gold is $1,923.10 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

USDJPY technical analysis

The pair is trading higher below 106.50 against the background of the weaker dollar ahead of an expectedly important speech from the Fed’s head, Jerome Powell, to be made at the Jackson Hole symposium tomorrow. Drastic measures from the Fed aimed at supporting inflation are expected and may put pressure on the US currency in the near future. Keep track of the price movement in real time.

Trading recommendations: if the pair goes above 106.50, it may continue further up to 107.00.

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NZDUSD analysis

The overall trend is upward. The pair is trading in the upper bound of the Ichimoku cloud. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending 1-2-3 pattern is formed above 0.6564; Stop Loss: 0.6490; target levels: 0.6619, 0.6688.

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Trading ideas for JSC Inter RAO UES

The stock is trading in the lower range of 365 and 135 moving averages and is testing the price pivot zone of 5.270. Stochastic Oscillator indicates an oversold condition. The price is also at the lower border of the ascending price channel. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending pattern.

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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.}