The pair rebounded to the upside after the 1.3460 level formed strong support in front of the descending wave, to test the pivotal resistance 1.3530 now, accompanied by the stochastic loss of positive momentum clearly, while the EMA50 forms continuous negative pressure in front of the price.
Therefore, these factors …
The general trend is ascendant. The descendant wave structures of H4 and H2 are truncated at the moment. Awesome Oscillator indicates bullish divergence and Stochastic Oscillator signals oversold conditions.
Trade idea:
Buy when the ascendant wave structure forms, where a wave (A) pierces the inclined channel of the descendant truncated …
Gold price resumed its positive trading after the decline it witnessed yesterday, as it consolidated above 1830.00 level, to keep the bullish trend valid on the intraday term, organized within the bullish channel that has positive targets that start by testing the 1860.00 areas.
The moving average 50 supports the …
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