The US dollar is recovering after a two-year low ahead of the Fed meeting. Oil prices are also recovering amid the US stimulus measures, European markets are mixed, the ECB extends the dividend ban for the eurozone banks. The price of Brent oil is $43.98, WTI—$41.52. EUR/USD is at 1.1714, GBP/USD—1.2860, gold is $1,920.25 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.
The overall trend is upward. The round important level of 70.00 is holding back sellers. A breakout of the resistance level of 70.57 will result in the formation of an ascending wave pattern. Keep track of the price movement in real time.
- Trading recommendations: buy above 70.57; Stop Loss: 70.00; target levels: 71.19, 71.64.
Trading ideas for the Boeing Co. (NYSE)
The support level of 168.80 is holding back sellers. A multi-candle “bullish pennant” figure has formed on the chart. Stochastic Oscillator indicates an oversold condition, and Awesome Oscillator indicates a bullish divergence. Keep track of the rate changes in real time.
- Trading recommendations: buy when the 1-2-3 pattern is formed, where wave 1 breaks through the upper border of the figure; Stop Loss: 168.80; target levels: 194.0, 233.0.
EURUSD technical analysis
The pair is correcting down amid a strong local overbought condition ahead of the Fed's monetary policy meeting. It may decline further today before receiving a new impetus for growth. Keep track of the rate changes in real time.
- Trading recommendations: if the pair doesn’t hold above 1.1710, it will fall to 1.1635, which will make a 23% Fibonacci pullback.