The overall trend is upward. The currency pair broke away from the lower limit of the ascending price channel and the support level of 116.17.
Stochastic Oscillator signals oversold conditions on the H4 TF. The price is located at the inclined channel of the descending H2 pattern.
#AEP
The overall trend is upward. The descending wave pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicates oversold conditions.
Trading idea:
Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.
Stop Loss …
The pair remains in a short-term uptrend amid a strong recovery in the global economy this year, which will contribute to the growth of demand for commodity and commodity assets. In this situation, high-yielding currencies, as well as the Australian dollar, will receive support.
Technical side:
The price is …
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