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 …
Friday, August 28th, today’s news—France's GDP has contracted by a record 13.8% in Q2. The Fed shifts its inflation target to "average", the news has triggered growth in the European and American markets, Dow is up 200 points. The price of Brent oil is $45.47, WTI—$42.88. EUR/USD is at 1.1906, …
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