The overall trend is downward. A start fractal has formed below the 135 moving average, followed by signal fractals. Breaking through the start fractal will result in the formation of a descending wave M30 level pattern within the C wave of a descending H8 level pattern.
Trading recommendations:
Sell …
The stock is trading in the range of 365 and 135 moving averages. Stochastic Oscillator signals overboughtness. Breaking through the price pivot zone of 34.68 will result in the formation of a descending wave pattern.
Trading recommendations:
Sell below 34.68.
Stop loss – 36.40.
Target levels – 32.71; 30.50. …
The pair has fully formed the descending flag trend continuation pattern. It’s supported by the increased demand for risk assets, the revitalization of China-Australia trade, as well as the possible weakening of the US dollar amid the unprecedented stimulus measures by the Fed and the US Treasury.
Technical side: …
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