The pair continues to consolidate amid the flat trend in the crude oil market triggered by the uncertainty surrounding the coronavirus pandemic, as well as by the demand for crude oil and the pace of global economic recovery associated with it.
Technical side:
The price is on the lower …
The stock is trading within the range of the lower border for an ascending price channel. Stochastic Oscillator indicates an oversold situation. The price pivot level 0.03550 deters bulls, while Awesome Oscillator shows a bullish divergence.
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Trading recommendations:
Buy …
The currency pair is trading within the range of the round important level 1.0700 and the upper border of a descending price channel. If the round secondary level 1.0680 is breached, this will result in the formation of a 1-2-3 descending pattern.
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