Daily reviews

The GBP/USD pair continues its upward movement. After it managed to break the resistance level 1.2590 and settled above it, thus opening the way to continue the ascent to the next target 1.2700.

Moving averages pressure the price further as it moves below the price in ascending order. The average …

The currency pair is traded inside the descendant channel’s upper border span. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The ascendant wave structure has finished with the channel breach.

Trading idea:

Sell when level 1.0734 is breached.

Stop-loss: 1.0789.

Target levels: 1.0643; 1.0500.

News of the day, Monday, May 30

Oil was up today, hitting two-month highs as investors are in wait for the European Union's decision on the sixth package of sanctions against Russia. Brent Crude futures increased by 0.73%, and WTI futures gained 0.85%.

The U.S. dollar continued last week’s losses …

#FME

The share is traded inside the flat’s lower border span. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The inclined channel of the descendant truncated structure is breached.

Trading idea:

Buy when the 56.845 level is breached.

Stop-loss: 55.400.

Target …

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, …

The GBP/USD pair broke the resistance level 1.2590 and rose to the next resistance 1.2640, and it is currently trying to breach it and complete the bullish path.

The bullish movement of the price comes with positive support from the technical indicators, where the moving averages are pressing the price …

The EUR/USD pair reached the resistance level of 1.0750, therefore, the price is considered to have achieved the first target for the bullish movement, which is likely to extend to the next level at the value of 1.0830. As the price is moving steadily within an ascending path, within the …

#ABT

The trend is descendant. The ascendant truncated wave structure is traded between 365 and 135 moving averages. 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 …