News of the day, Tuesday, July 5
Gold fell by 0.2% yesterday to $1807 per ounce, over a softer dollar and prospects of higher interest rates.
The U.S. dollar edged lower today, with the DXY index down 0.1%.
Brent crude dropped today amid concerns over the possible recession. Brent crude …
The EUR/USD pair stabilized in the sideways range around the 7-20 EMAs and did not give any indication for the movement, so we maintain expectations of continuing the bearish path as long as the price is below the resistance level 1.0475, and the target will be the level of 1.0330 …
The descendant wave structures are truncated. The historical support 1.3391 restrains sellers. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The inclined channel of the descendant truncated structure is breached.
Trading idea:
Buy when level 1.3424 is breached.
Stop-loss: 1.3391.
Target levels: 1.3450; 1.3520.
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