The currency pair is trading in the range of 135 and 365 moving averages. The descending wave pattern of the H2 level is currently truncated. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversold conditions.
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#T
A truncated descending wave pattern has formed. And a bullish divergence has formed on Awesome Oscillator. Probably, the descending truncated pattern is a correction wave (B) and a wave (C) is being formed now.
Trading idea:
Buy on breakout 28.20.
Stop Loss: 27.75.
Target levels: 28.53 (specialist trap); 29.33.
Thursday, August 12th, today’s news — in today’s morning, stock indexes in the Asia-Pacific region mostly rose amid signs of slowing inflation in the US and easing concerns about an earlier-than-expected reduction in assets by the US Federal Reserve. The price of Brent oil is $71.88 per barrel, WTI — …
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