The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator indicator (the price has overstepped the balance line at the point (B) — “breaking the bear’s back”, then the minimum on the chart was updated without updating the indicator’s minimum). Stochastic Oscillator indicates an oversold condition. …
The overall trend is downward. The currency pair is trading in the range of 364 and 135 moving averages, and the ascending H1 level pattern is truncated. Stochastic Oscillator also signals an overbought condition.
: monitor the price movement in real time.
Trading recommendations:
Sell when …
The pair began to correct following today’s weak economic data from China. The pair is being driven down due to the local overbought condition, which may result in a limited decline.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI …
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