The general trend is descendant. The currency pair is traded between 365 and 135 moving averages. Stochastic Oscillator indicates overbought conditions. The “start fractal” is formed below 135 EMA, the breach of this figure will cause the pattern ABC to start.
Trading idea:
Sell when 6.6657 level is breached.
Stop-loss …
News of the day, Tuesday, June 7
European shares slumped today as investors still worry about some depressing prospects of global economic growth this year. The pan-European STOXX 600 fell 0.4%.
The USD increased earlier today after a big rate hike in Australia. The Dollar index traded 0.2% lower today. …
Gold was unable to maintain the gains it made at the end of last week, as it approached the resistance 1870.00, then bounced lower, breaching several levels of support, and was able to break the main support 1845.00 and settled below it, thus opening the way for a bearish path …
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