04.09. Fresh trading analysis: major drop in the American markets

Friday, September 4th, today’s news—a major drop hit the American markets, Dow futures are down over 800 points, S&P 500 and Nasdaq Composite down 3.5% and 5% respectively. Negative trends also dominate the European and Asian markets, the US dollar is rising ahead of the employment data release, oil is falling amid the weak demand. The price of Brent oil is $44.22, WTI—$41.56. EUR/USD is at 1.1841 GBP/USD—1.3295, gold is $1,941.05 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

AUDUSD analysis

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. 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 pattern.

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Trading ideas for Cigna Corp. (NYSE)

The support level of 171.00 is holding back sellers. A descending truncated pattern has formed. A bullish divergence has formed on Awesome Oscillator. A breakout of the resistance level of 185.24 will result in the formation of an ascending wave pattern.

Trading recommendations: buy above 185.24; Stop Loss: 171.00; the target is 215.56.

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EURUSD technical analysis

Today, the market is focused on the US employment data. If the number of new jobs is higher than predicted, the pair may be supported as the demand for risk assets grows. At the same time, negative figures may put pressure on the pair, but it will be limited due to the fundamental weakness of the US currency. Keep track of the price in real time.

Trading recommendations: if the price drops below 1.1835, it will go further down to 1.1795. Meanwhile, in case of positive data, the pair will likely grow to 1.1900.

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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.}