The support level of 328.40 deters sellers. A downward truncated pattern has formed, it ended with a breakout of the inclined channel. Awesome Oscillator indicates a bullish divergence. A breakout of 333.20 will result in the formation of an ascending wave pattern.
monitor the price movement …
The pair remains in a short-term uptrend amid the chronically weaker US dollar. From a technical point of view, it’s located at a kind of a bifurcation point, when it can continue to drop after breaking the support line or turn up and resume the upward trend.
Technical side: …
Monday, October 12th, today’s news—China's export in September rose 10% compared to the last year. Asian markets rise on the economic data from China, European markets also rise, yuan is weaker against the dollar, stimulus talks in the US are still unsuccessful. The price of Brent oil is $42.33, WTI—$40.01, …
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