The currency pair is traded inside the upper border of the descendant channel span. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant ABC pattern forms, from the mirror level 1.0770.
Stop-loss is over the local maximum + 5 points filter.
Target …
News of the day, Friday, May 27
The U.S. dollar weakened today decreasing to a one-month low on rising expectations of the Federal Reserve's short-lived policy tightening cycle. The dollar index traded 0.2% lower earlier today.
Oil prices dipped today yet still holding near a two-month high, as tight supply …
Gold returned to the upside after testing the support level 1845.00 and failing to breach it, to rebound upwards and reach the first resistance 1856.00 at the lower line of the ascending channel, where the EMA 20 resides. This is within the bearish correction movement that it was making. Therefore, …
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