The general trend is descendant. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The currency pair is traded between 365 and 135 moving averages.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches …
News of the day, Wednesday, April 6
Yesterday, Fed’s governor Lael Brainard said that the Federal Reserve will tighten monetary policy at “a rapid pace”. While Brainard usually favors loose policy with low rates, her announcements on Tuesday were quite hawkish, as she promised that “The [Federal Open Market] Committee …
Gold continues to move sideways, as the price returned to test the support 1921.60 again, and the price is trying to pressure it to breach it and start a descending path towards the next support 1909.00.
The moving averages are pressing the prices for more decline, as they are moving …
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