A descending pattern has formed, which is currently truncated. Moving averages of Stochastic Oscillator are in the oversold zone. A breakout of the downward sloping channel pattern will result in its completion and the price will be able to recover after the drop caused by the pandemic crisis.
The currency pair is trading in the range of the upper limit of the descending price channel. The ascending H2 level pattern is truncated. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals an overbought condition. A breakout of 0.6859 will result in the formation of a descending …
The pair declines as the demand for risk assets falls and investors are cautious ahead of the US presidential election amid the second wave of the COVID-19 pandemic.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is on the border …
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