Daily trading analysis for April 9th

Thursday, April 9th—today's news: oil prices grow on optimism over today's OPEC+ talks. Europe is nearing the pandemic's peak, but the markets push higher. EUR/USD is at 1.0871, GBP/USD—1.2403; Brent oil is $30.62 per barrel, gold is $1,659.88. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

AUDCHF analysis

The overall trend is downward. A reversal wave model has formed, where the waves C H8 and C H2 are truncated. Awesome Oscillator shows a bearish divergence, and Stochastic Oscillator signals overboughtness.  Keep track of the rate changes in real time.

Trading recommendations: sell strictly while a descending wave pattern is forming, where wave A breaks through the inclined channel of the ascending H8 level pattern. 

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AUDUSD technical analysis

The pair is supported as the Chinese economy is recovering and the pandemic’s peak is expected to be passed soon, as well as by RBA’s leaving the interest rates unchanged. As the pandemic subsides, the US dollar will weaken further amid the stimulus measures by the Fed and the Department of the Treasury, which will also support the pair. Keep track of the rate changes in real time.

Trading recommendations: buy the pair above 0.6200 with a likely further increase to 0.6325.

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Trading ideas for the Kraft Heinz Company (#KHC)

A resistance level of 27.50 holds back the bulls. Stochastic Oscillator signals overboughtness, and a Bearish divergence has formed on Awesome Oscillator. The stock is trading in the range of the upper limit of the downward price channel. Keep track of the rate changes in real time.

Trading recommendations: sell below 27.00; stop loss: 27.50; target levels: 26.43, 25.47, 24.00.

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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.}