02.09. Fresh trading analysis: weak data from Europe, American indices rise

Wednesday, September 2nd, today’s news—weak eurozone data, negative inflation, low retail sales in Germany. Despite this, European shares are rising following a strong Wall Street session, Dow futures are up nearly 100 points, oil and Treasury yields are rising. The price of Brent oil is $45.67, WTI—$42.92. EUR/USD is at 1.1866, GBP/USD—1.3358, gold is $1,977.75 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

GBPNZD analysis

The assumed correction is approaching the 50% Fibo level from the rising wave. A price pivot zone of 1.9634 is also there. If the level holds, a descending truncated pattern will continue to form. The bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition. Keep track of the price in real time.

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

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EURUSD technical analysis

The pair remains within the “rising flag” pattern. Today it may rise in the short term on the ADP data release, or continue to decline. In the future, however, it is likely to resume growth amid the fundamental weakness of the US dollar. Keep track of the price in real time.

Trading recommendations: if the pair doesn’t stay above 1.1900 from a technical point of view, it will continue to decline to 1.1795. At the same time, if it holds above this level, it will proceed further up to 1.1990.

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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 shows a bullish divergence, and the descending pattern is currently truncated. Keep track of the price 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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^{*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.}