The pair is recovering from a drop amid the Bank of Canada’s monetary policy meeting and the strong demand for risk assets caused by Joe Biden’s inaugural rally. If the demand for stocks falls due to profit-taking, and oil prices stop rising, expect the dollar to rise locally today. …
#KMB
The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversold condition. Breaking through the resistance level of 132.64 will result in the formation of an ascending wave pattern.
Trading idea:
Buy above 132.64.
Stop Loss: 129.30.
Target levels: 138.00; 144.00; 155.00.
The currency pair is trading in the range of the resistance level of 1.9185 and the upper limit of the descending price channel. A bearish divergence has formed on Awesome Oscillator, and the Stochastic Oscillator signals overbought condition.
monitor the price movement in real time.
Trading …
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