The pair remains in a short-term downtrend as the US dollar weakens, while crude oil prices resume growth. If these two important factors persist, the pair will remain under pressure.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in …
Friday, November 27th, today’s news—China's industrial profits rise for the sixth consecutive month, jumping 28.2% in October. European and Asian markets rise, oil and dollar weaken, bitcoin is down nearly $3,000. The price of Brent oil is $47.69, WTI—$44.91, EUR/USD is at 1.1928, GBP/USD—1.3370, gold is $1,808.00 per ounce.
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The stock is trading in the range of 365 and 135 moving averages. A “start fractal” has formed above the moving averages. A breakout of the start fractal will result in the formation of a 1-2-3 ascending pattern. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator signals an …
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