The pair recovers after reaching the local minimum. The correction is likely to continue until Friday's release of employment data from the US Department of labor. If the values are weaker, as shown by the figures from ADP on Wednesday, the pair is likely to turn down and continue to …
The stock is trading flat in a range of its upper limit. Breakout of the 131.25 level will result the formation of a downward pattern 123. Moving Averages on Stochastic Oscillator are in the range of level 80 (overbought zone).
Trading recommendations:
Sell below 131.25.
Stop Loss – 133.50.
Target …
Analysis based on round-number levels, price channels and modified Elliot Waves
The support level of 1.2150 holds back sellers. The inclined channel of the downward pattern is broken through by an upward movement (A H2), after which the price rolled back into the range of 135 and 365 moving averages. …
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