The US dollar fell during the Asian session to witness its rebound to the second session in four sessions from its highest since March 3 against the Japanese yen amid growing fears of a global outbreak of the Corona virus and in the wake of developments and economic data that …
The pair remains under extrene pressure amid expectations of a strong drop in global economic growth due to the impact of the coronavirus on global business and economic activity, which leads to a drop in demand for commodity assets. The Australian dollar is a commodity currency.
The price is below …
Despite the obvious downtrend, the bears are weakening, while forming truncated wave patterns on the chart, which results the formation of a reversal wave pattern. Bullish divergence has formed on Awesome Oscillator.
Trading recommendations:
Buy strictly while an ascending wave pattern is forming, where the wave (A) breaks through the …
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