The overall trend is upward. The price pivot zone of 39.32 held back sellers. The descending H1 level pattern is truncated. Awesome Oscillator indicates a bullish divergence, and Stochastic Oscillator indicates an oversold condition.
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The overall trend is upward. The descending truncated pattern ended with the breakout of an inclined channel (presumably a wave B H4). Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. A breakout of 1955.0 will result in the formation of an ascending wave H2 …
The pair is consolidating in the range of 1.1770–1.1850 ahead of Jerome Powell’s speech at Jackson Hole symposium. If he indicates that the regulator will shift its inflation targets to “average”, this may support the US dollar. However, if he doesn’t report anything new about the Fed’s monetary policy …
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