The support level of 224.70 held back sellers. Breaking 235.64 will result in the formation of an upward pattern 123. Awesome Oscillator indicator shows a bullish divergence, and the Stochastic Oscillator signals oversoldness.
Trading recommendations:
Buy above 235.64.
Stop loss – 224.70.
Target levels: 244.80; 256.56; 261.70.
The overall trend is downward. A false breakout of the previous maximum has formed. A head-and-shoulders reversal pattern is probably forming. Breaking the neck line will result in the formation of a descending wave pattern within the overall downward trend. A bearish divergence has been formed on Awesome Oscillator.
Trading …
The pair is trading above 1.0990 amid the positive US employment data released by ADP on Wednesday. The pair may correct upward, but is likely to continue dropping due to the probably strong new jobs data to b realeased by the Department of Labor on Friday.
The price is below …
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