The general trend is upward. Downward truncated wave structure ended with the breakthrough of the inclined channel. The Awesome Oscillator indicator has a bullish divergence, and the Stochastic Oscillator indicator signals oversold.
Trading idea:
Buy on a breakout of 1.2900.
Stop loss: 1.2814.
Target levels: 1.2990; 1.3077.
Gold traded above the support level of 1720.00 is considered positive for the continuation of the bullish scenario within which the price is moving, as stability above the mentioned support level will motivate buyers to increase the volume of purchases and pressure the price to return from the rise. This …
The pound against the dollar reached the first target at 1.2070, thus confirming the current bullish path, which is supported by the moving averages below the price within an ascending order. But you should pay attention to the negative signal from the stochastic indicator, which will likely pressure the price …
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