The euro against the dollar is stabilizing near the broken support level 1.0750, after yesterday it reached the support 1.0690, and it rebounded again to the upside.
The moving averages form a limit to the price movement, as the 50 average formed a support level and stopped the decline that …
#CL
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: 79.33.
Target levels: 76.35; 74.00.
The general trend is descendant. The ascendant truncated wave structure has finished breaching the inclined channel. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the 1.7230 level is breached.
Stop-loss: 1.7358.
Target levels: 1.7138; 1.7000.
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