The single currency, the euro, fluctuated in a narrow and bullish range during the Asian session, to prepare its third consecutive weekly gains against the US dollar on the cusp of developments and economic data expected on Friday by the economies of the euro area and the US economy, …
The overall trend is downward. The ascending wave pattern of the M30 level is truncated. The inclined channel of the ascending pattern is broken. The currency pair is trading in the range of 365 and 135 moving averages. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator signals overbought …
The pair is trading in the range of 0.7700-0.7800. It may gain support and rise to its upper limit if the US manufacturing data released today is higher than forecast, which will strengthen demand for risky assets and high-yielding currencies, which include the Australian dollar.
Technical side:
The price …
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