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Fresh trading analysis: major stocks drop & Visa report


27 July 2020

Gold price sets a new high breaking the 2011 record amid the increased demand for safe assets. The US dollar and oil prices fall as the pandemic and tensions with China continue to influence the economy, American stock markets rise ahead of a big week of corporate earnings. The price of Brent oil is $43.47, WTI—$41.05. EUR/USD is at 1.1696, GBP/USD—1.2723, gold is $1.2833 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

AUDUSD technical analysis


The pair is supported by China’s economic growth after the winter’s strongest pandemic-induced shock. The global weakness of the US dollar following the massive stimulus measures, as well as the recovering business activity in China, will support the Australian dollar. Keep track of the price movement in real time.

Trading recommendations: if the pair holds above 0.7120, it will proceed to 0.7200.

Trading ideas for American Express Co. (NYSE)


The stock is trading in the lower border range of the ascending price channel. Awesome Oscillator indicates a bullish divergence. A breakout of the resistance level of 97.70 will result in the formation of an ascending wave pattern within the uptrend. Keep track of the rate changes in real time.

Trading recommendations: buy above 97.70; Stop Loss: 89.50; target levels: 108.00, 113.50.

CADJPY analysis


The overall trend is upward. The support level of 78.63 is holding back sellers. Stochastic Oscillator indicates an oversold condition. A breakout of the price pivot zone of 79.12 will result in the formation of an ascending wave pattern within the overall uptrend. Keep track of the rate changes in real time.

Trading recommendations: buy above 79.12; Stop Loss: 78.63; target levels: 79.64, 80.12.

#source

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