The overall trend is downward. The resistance level of 0.8925 is holding back buyers. The ascending pattern is truncated. A bearish divergence has formed on Awesome Oscillator.
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Trading idea:
Sell when a descending wave pattern is formed, where the …
The pair is recovering from a drop amid the Bank of Canada’s monetary policy meeting and the strong demand for risk assets caused by Joe Biden’s inaugural rally. If the demand for stocks falls due to profit-taking, and oil prices stop rising, expect the dollar to rise locally today. …
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The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversold condition. Breaking through the resistance level of 132.64 will result in the formation of an ascending wave pattern.
Trading idea:
Buy above 132.64.
Stop Loss: 129.30.
Target levels: 138.00; 144.00; 155.00.
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