26.01.2023
The overall trend is ascending. The USD index tests the lower border of the long-term price channel, the Euro index tests the resistance level. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
Trading idea:
Sell at the formation of the descending wave structure, where the wave (A) breaches the sloping channel of the ascending truncated structure;
Stop-loss: over the local maximum 1.0926;
Target price levels: 1.0782; 1.0650;
The trading strategy: counter-trend.
The overall trend is ascending. Yesterday, we advised to buy this pair in the moment of the formation of the ascending wave structure. Currently, the Stochastic Oscillator signals the oversold state. We recommend to consider new purchase again after the price repeatedly slopes to the range between 365 and 135 ЕМА.
Trading idea:
After the slope to the range between 365 and 135 ЕМА, one must draw the sloping channel along with the descending structure. Buy when the downward wave structure finishes with the breach of the sloping channel of the ascending structure;
Stop-loss: under the local minimum of the descending structure;
Target price level: 1.2435;
The trading strategy: along with the current ascending trend.
The overall trend is ascending. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold situation. The slope to the range between 365 and 135 is probable.
Trading idea:
After the slope to the range of 365 and 135 ЕМА one must draw a sloping channel along the descending structure. Buy when the formation of the descending wave structure finishes with the breach of the sloping channel of the ascending structure;
Stop-loss: under the local minimum of the descending structure;
Target price level: 1949.0;
The trading strategy: along with the current ascending trend.
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