The overall trend is upward. The price pivot zone of 1.2170 deters sellers. The descending wave pattern is truncated. Awesome Oscillator shows bullish divergence, while Stochastic Oscillator signals oversold conditions. The currency pair is trading in the range of 365 and 135 moving averages.
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The pair began to consolidate waiting for important data on employment in the US, which will be published next Friday.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and moves horizontally. Stoch are entering …
Thursday, May 27th, today’s news—Oil prices fell on Thursday as concerns over demand in India and a possible increase in supplies from Iran outweighed optimism over the summer auto season in the US and Europe. The price of Brent oil is $68.39 per barrel, WTI—$65.91. EUR/USD is at 1.2207, GBP/USD—1.2207, …
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