The EUR/USD pair approached the main target and reached the value of 1.0360 during last week's trading, before returning to the upside in an attempt to correct the descending path to the 1.0425 resistance, affected by the positivity of the stochastic indicator.
The moving averages form the first resistance levels …
#MCD
Bulls are testing the resistance 254.10. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.
Stop-loss is over …
The general trend is ascendant. The descendant truncated structure has finished breaching the inclined channel. Awesome Oscillator indicates bullish divergence.
Trading idea:
Buy when level 105.043 is breached.
Stop-loss: 104.155.
Target levels: 105.654; 106.371.
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