09.01.2020
Stochastic Oscillator indicator signals overboughtness, while a bearish divergence formed on Awesome Oscillator. The currency pair is trading in the range of 365 and 135 moving averages directed downwards. The upward movement is probably a wave (B) forming an H8 level downward pattern. The formation of the descending wave pattern with a breakthrough of the 135 moving average will result in the completion of an M30 level rising pattern by breaching the inclined channel and the fractal point of entry.
Trading recommendations:
Sell while a descending structure is forming, where the wave (as) breaks the 135 moving average.
Stop loss for the resistance level of 75.27.
Target levels - 74.74; 74.42; 73.80.
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