The currency pair is traded above 200 EMA. A false breakthrough of the 82.34 support level is formed with a return pattern “pin bar”. Together with this, the Stochastic Oscillator indicated the overlap of moving averages inside the oversold area, which gives hope for 82.34 level retest.
Trade idea:
Buy …
#GM
The general trend is ascendant. The descendant wave structure is truncated. The support level of 47.62 restrains sellers. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trade idea:
Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the …
Gold price shows additional positive trades to reach the awaited target 1916.25, and we are likely to surpass this level to achieve new gains that extend to 1960.00, supported by the EMA50 that continues to carry the price from below.
From here, the bullish trend scenario will remain valid and …
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