Wednesday, December 9th, today’s news—European markets rise as investors monitor the Brexit talks progress, the UK PM Boris Johnson on the way to Brussels. Asia-Pacific and American markets are also up, S&P 500 hits a record high of 3,700, dollar and gold are weaker amid the vaccine and stimulus optimism. …
#CMI
The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages.
Stochastic Oscillator signals an oversold condition. A breakout of the resistance level of 222.70 will result in the formation of a 1-2-3 ascending pattern.
Trading recommendations:
Buy when the 1-2-3 …
Optimism dominates over the global markets as vaccination begins in the UK, and a new stimulus package is expected in the US. Strong economic data from China has a positive impact on the commodity currencies, which may continue to push the pair up.
Technical side:
The price is above …
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