Daily reviews

Amazon stock continues in the sideways track above the support level 3114.40 despite breaching the support level of the ascending channel that it was moving within last month.

The moving averages are pressing the price further downwards as the 7-20-50 moving averages form a very strong resistance level above the …

EURUSD

The pair found support at 1.2060 as the moderate optimism returns to the market. This may lead to a local rebound, but the growth will be limited, as investors await tomorrow’s monetary policy decision by the ECB.

Technical side:

The price is located below the middle Bollinger band, above …

GBPAUD

The overall trend is downward. Ascending patterns of the H4 and H2 levels are truncated. Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overbought condition. A breakout of 1.7626 will result in the formation of a descending pattern, which completed the ascending truncated pattern of the H2 level. …

#KHC

The overall trend is upward. The stock is trading in the range of the lower limit of the ascending price channel. Awesome Oscillator shows bullish divergence, while Stochastic Oscillator signals oversold.

Trading idea:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined …

Monday, January 18th, today’s news—China's economy grew 2.3% in 2020, but the consumer spending fell. European markets are down, dollar is stronger, gold is falling, oil rally ends as coronavirus cases mount. The price of Brent oil is $54.98, WTI—$52.37, EUR/USD is at 1.2062, GBP/USD—1.3521, gold is $1,829.20 per ounce. …

The price of gold confirmed the breach of the 1830.00 level after closing last Friday’s trading below it, and completed forming a descending triangular flag pattern that supports the chances of achieving more expected decline during the coming period, aiming to visit the 1800.00 level as a next stop.

Therefore, …

The Australian dollar against the US dollar achieved a clear breakout of the support level of the ascending channel and settled below it, and is approaching forming a double top pattern whose features appear in the image, its confirmation level is at 0.7665, which means that breaking it will confirm …

EURUSD

The pair declined significantly over the past week as the demand for risk assets falls, ahead of Joe Biden’s inauguration and the ECB monetary policy meeting. If the negative sentiment in the markets persists, the pair will be highly likely to resume decline.

Technical side:

The price is located …

#PLZL

The global trend is upward. Probably, an upward pattern of the D1 level is being formed, now the price is in the correction wave (B D1). Awesome Oscillator i shows a bullish divergence, while Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when an ascending wave pattern is forming, …

USDCHF

The overall trend is downward. The ascending pattern of the H8 level is truncated. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overbought conditions.

USDCHF rate online: monitor the price movement in real time.

Trading idea:

Sell when a descending wave pattern is formed, where …