The pair remains in a short-term uptrend. It found support at 1.2170, which is technically "strong". If it stays above it, and the market sentiment is positive, expect a local reversal of the pair's growth resumption.
Technical side:
The price is located below the middle Bollinger band, above SMA …
The overall trend is upward. The bears are testing the 0.7392 support level. Stochastic Oscillator signals oversold conditions. Probably, the downward movement is a wave (B) of the ascending pattern of the D1 level.
Trading idea:
Buy when an ascending wave pattern is formed, where the wave (A) breaks …
Wednesday, May 26th, today’s news—Blockchain startup Arabian Chain Technology has announced the release of its own digital currency, DubaiCoin. It will become a full-fledged payment and investment vehicle. The price of Brent oil is $68.89 per barrel, WTI—$66.08. EUR/USD is at 1.2235, GBP/USD—1.4152, gold is $1.906.85 per ounce. Read the …
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