The single currency of the European Union fluctuated in a narrow and bullish range during the Asian session to witness its seventh rebound in nine sessions from the lowest since May 12, 2017 against the US dollar on the eve of developments and economic data expected on Friday by Germany, …
The overall movement is upward. The pair is trading in the range of 135 and 365 moving averages directed upwards. Stochastic Oscillator indicator shows oversoldness.
Trading recommendations:
Buy as the ascending structure is forming, where the AU wave breaks the inclined channel of the H1 level descending structure, completing it. …
The support level of 5261.0 held back sellers. Stochastic Oscillator indicator showed an exit from the oversold zone. Breaking through the resistance level 5345.0 will give the formation of an upward pattern 123.
Trading recommendations:
Buy above 5345.0
Stop loss – 5261.0.
Target levels – 5434.0; 5554.0; 5700.0.
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