Daily reviews

#HD

The general trend is ascendant. Descendant wave structures are truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the 292.46 level (pivot 2 of the wave C).

Stop-loss is under the …

The general trend is descendant. The currency pair is traded between 365 and 135 moving averages. The ascendant wave structure of the H1 level is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant wave structure forms, where the wave (A) …

News of the day, Friday, May 20

Kashkari: the Fed is cutting down the balance sheet much faster than it used to be increased during the pandemic.

Forbes: the collapse of UST and LUNA will lead to improved decentralized products emerging.

According to the German Chamber of Commerce and Industry …

Gold prices rose during yesterday's trading, and with the opening of today's session, it approached the main target 1850.00 and is currently settling at the resistance level of 1845.60, where the price is trying to breach this level and start the bullish path.

In case the price fails to break …

The GBP/USD pair moved with a strong push to the upside, and returned to test the 1.2480 resistance again, thus the bullish scenario returns, which is confirmed by breaking the mentioned resistance level and settling above it.

The moving averages are pressing the price to rise further, as the two …

The EUR/USD pair started moving upwards and managed to breach the resistance level at 1.0550 and settled above it. Therefore, it is moving positively today towards the level of 1.0645, which is the next target for the current bullish movement.

The moving averages support the price to complete the ascending …

#OR

The general trend is ascendant. Descendant wave structures are truncated. Awesome Oscillator indicates bullish divergence. The support level 301.00 restrained sellers.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss: 301.00.

Target levels: 375.00; …

The general trend is ascendant. Bears have tested the moving average 200 at the level 0.9690. Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy when the candle closes above 0.9730. (Close above the last impulse bearish candle at H1)

Stop-loss: 0.9690.

Target levels: 0.9850; 0.9973.

News of the day, Thursday, May 19

S&P has lowered the 2022 GDP growth prognosis for some countries. USA economic growth is expected to decrease to 2.4% from 3.2%, and the EU GDP outlook may decrease to 2.7% from 3.3%.

Strategists assume a 0.5% interest rate hike in India at …

Gold settled around the support 1810.90 after rebounding from the resistance level. It showed weak trading yesterday. In general, we will continue to suggest the bearish path as long as the price continues to move below the level of 1850.00 in the medium term. The target will be the 1780.00 …