17.05.2022
The general trend is descendant. The currency pair is traded between 365 and 135 moving averages. The ascendant wave structure of the H2 level is truncated at the moment. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant structure.
Stop-loss is over the local maximum of the ascendant structure.
Target levels: 8.6780; 8.6340.
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