EURUSD analysis 07.05.2020

EURUSD 
The round secondary level of 1.0780 is holding back sellers. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness. The level of 88.2% of the assumed wave A H8 is not broken, this allows us to assume that the downward pattern is a correction wave on H8.

Trading recommendations:

Buy while an ascending pattern is forming, where wave A breaks through the inclined channel of the descending pattern.

Stop loss at the local minimum.

Target levels: 1.0890; 1.0989.

If the level of 88.2% (1.0761) is broken, cancel the trading plan.

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