28.08. Fresh trading analysis: France's GDP slump, the Fed shifts the inflation target to "average"

Friday, August 28th, today’s news—France's GDP has contracted by a record 13.8% in Q2. The Fed shifts its inflation target to "average", the news has triggered growth in the European and American markets, Dow is up 200 points. The price of Brent oil is $45.47, WTI—$42.88. EUR/USD is at 1.1906, GBP/USD—1.3268, gold is $1,957.90 per ounce. 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 remains in a short-term downtrend amid the global fundamental weakness of the US dollar, which only increased after the Fed’s head Jerome Powell announced 2% as the new inflation target. The pair will continue to decline in the short term due to this factor and the uptrend in oil prices. Keep track of the price movement in real time.

Trading recommendations: the price is at the level of the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch have turned down.

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GBPNZD analysis

The overall trend is upward. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.

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

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Trading ideas for the Adidas AG. (XETRA)

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence, and the descending pattern is currently truncated. Keep track of the rate changes in real time.

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