Gold price shows some bearish tendency to test the pivotal support floor 1797.00, and keeps its stability above it until now, accompanied by the stochastic indicator reaching oversold areas, to support the chances of resuming positive trades and heading towards our awaited positive target at 1825.15.
Therefore, we will continue …
The pound sterling against the dollar was able to achieve our awaited target at 1.3525 and settle there, and obtaining positive support from the EMA50 to support the chances of surpassing this level and opening the way to achieving more gains in the upcoming sessions, as the next target reaches …
The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trade idea:
Buy when the ascendant wave structure starts forming, where a wave (A) breaches through the inclined channel of the descendant truncated structure.
Stop-loss below the local minimum of the descendant truncated …
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