The price pivot zone of 212.20 deters buyers. The ascending wave pattern is truncated. A bearish divergence has also formed on MACD.
Trading recommendations:
Sell while a descending wave pattern is forming, where wave A breaks through the inclined channel of an ascending pattern, completing it.
Stop loss beyond …
The Australian dollar versus the US dollar tested a pivotal resistance 0.6407 and started bouncing down from there, to keep the downside scenario effective for the next period, supported by the negative signal provided by the stochastic indicator now, and the price needs to exceed 0.6320 to facilitate the task …
The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its rebound to the seventh session in eight sessions from the top since early April and to prepare for the second consecutive weekly losses against the US dollar on the cusp …
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