The general trend is upward. The currency pair trades in the range of the lower border of the ascending price channel. The descending wave structure of the H2 level is truncated. The Awesome Oscillator indicator has a bullish divergence, and the Stochastic Oscillator is signaling oversold.
Trading idea:
Buy on …
Oil prices were steady today as demand concerns offset data about a larger-than-expected drawdown in U.S. crude stockpiles. Brent crude futures were 0.1% up, and WTI crude futures were 0.5% up.
Key tickers:
Brent: 100.14 — buy.
WTI: 95.78 — neutral.
NG: 8.772 — neutral.
Gold was able to breach the support level 1720.00, affected by the negative signal that comes from the stochastic indicator therefore, it provided an initial signal to return to the bearish path, but it did not give any confirmation after the fact that the EMA50 is still forming the support …
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