The pair is trading above the level of 1.3840 after a correction on Wednesday amid the partial profit-taking in the stock markets, which generally put pressure on the major currencies and supported the demand for the US dollar.
Technical side:
The price is located below the middle Bollinger band, …
Wednesday, February 17th, today’s news—investors monitor the rising Treasury yields and the outlook for inflation growth. European and American markets fall, new car sales in Europe are down 25.7% in January year-on-year, dollar gains. The price of Brent oil is $63.98, WTI—$60.52, EUR/USD is at 1.2064, GBP/USD—1.3870, gold is $1,786.40 …
The overall trend is upward. The descending truncated pattern of the H4 level ended with the breakout of the price pivot zone-2 of wave C. Awesome Oscillator shows a bullish divergence. The breakout of 1.08 will result in the formation of an ascending wave pattern of the H1 level …
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