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The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The breach of the 1.4840 level will cause an ascendant wave structure to form.

Trading idea:

Buy when level 1.4840 is breached.

Stop-loss: 1.4750.

Target levels: 1.4940; 1.5150.

Commodities market

Oil prices slid today as recession concerns outweighed tight global supply. Brent crude futures dropped 0.7%, and WTI crude futures fell 0.9%.

Key tickers:

Brent: 106.03 — strong sell.

WTI: 98.59 — strong sell.

NG: 7.703 — sell.

Foreign exchange market

The euro rebounded today as Russia is …

Gold did not form any significant movement during yesterday's trading, as it moves within a narrow sideways path around the 20 EMA.

In general, the bearish path is likely during today's trading, provided that trading remains below the 1710.00 level due to the negative impact of the stochastic indicator. Therefore, …

The correction movement for the EUR/USD pair stopped at the resistance level of 1.0250. Where trading stabilized above the level of 1.0200, the bullish scenario remains the most likely, waiting for the price to break the resistance level 1.0250, and the target will be the level of 1.0350.

The moving …

The trend is descendant. The ascendant truncated wave structure of the H2 level is finished with breach of pivot 2 of wave C. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when level 1.1984 is breached.

Stop-loss: 1.2046.

Target levels: 1.1925; 1.1806.

Commodities market

Oil prices slid more than $1 today ahead of expected builds in U.S. crude inventories. Brent crude futures fell 1.4%, and WTI crude futures slumped 1.3%.

Key tickers:

Brent: 106.18 — sell.

WTI: 99.34 — neutral.

NG: 7.254 — neutral.

Foreign exchange market

The U.S. dollar edged lower …

Gold could not break the resistance 1717.00, as it tested it yesterday and failed to breach it, after which it rebounded lower and returned to resume the descending path and approached the target 1700.00 again, especially as the price moved below the moving average level.
The bearish bias will be …

The pound against the dollar achieved its target yesterday and reached the resistance level of 1.2000, after which it rebounded slightly to the downside and approached the EMA50. The bearish scenario is expected to continue if the price breaches the average level, and the targets will be 1.1900 and then …

The EUR/USD pair reached the target 1.0200 yesterday, then bounced lower as it failed to break the resistance 1.0750. It is likely to continue the current bearish movement until it tests the EMA50, negatively affecting the stochastic indicator on the price.

The bearish bias will be likely for today, bearing …

#AIR

The general trend is descendant. 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 structure.

Stop-loss is over the local maximum of the ascendant structure.

Target …