The pound against the dollar rose strongly and managed to break several resistance levels and reached the 1.2260 resistance before correcting downward and testing the 1.2175 level as a support level. Affected by the negativity of the stochastic oscillator.
While the moving averages constitute a positive pressure factor.
The EURUSD pair was able to break the resistance level 1.0250 and reached the next target 1.0340. Before it corrected down and reached the support 1.0300.
Breaking 1.0250 and settling above it is the beginning of the way to end the previous sideways path and start the bullish path.
The bulls have tested the upper boundary of the descending price channel and the resistance level of 60.95. The Awesome Oscillator indicator has bearish divergence, and the Stochastic Oscillator indicator signals overbought.
Trading idea:
Sell on the formation of a downward wave structure, where wave (A) breaks the sloping …
Downward wave patterns are truncated. The bears are testing the historical level of 0.9700. The Awesome Oscillator indicator has a bullish divergence, and the Stochastic Oscillator indicator signals oversold.
Trade idea:
Buy on the formation of an upward wave structure where wave A breaks through the downward sloping truncated channel. …
Oil prices fell on Wednesday after industry data showed that US crude inventories unexpectedly rose last week, indicating a potential hiccup in demand, though supply concerns kept losses in check.
At 0323 GMT, Brent crude futures were down 23 cents, or 0.2%, to $96.08 per barrel. The price …
Gold continues its bullish movement, as it tested the resistance level of 1800.00 yesterday, then rebounded from it in a correction for the bullish path, and reached the support at the lower limit of the ascending channel within which it is moving, as well as the moving average level 20. …
The GBP/USD pair is moving sideways to the downside. Yesterday, it tried to test the EMA50 level and failed to breach it to return to the lower movement.
The moving averages are pressing the price to decline further, as it is in a descending arrangement above it, and there is …
The general trend is downward. On the H4 timeframe, a "shooting star" reversal pattern was formed. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought.