Analysis based on round-number levels, price channels and modified Elliot Waves
The overall trend is upward. The descending H2 level pattern is truncated. An assumed wave (A) has broken through an inclined channel of the descending pattern. Awesome Oscillator shows a bullish divergence. If the price breaks through 0.6436, …
The pair is attempting to break from the range of 1.3500–1.3665. If the crude oil prices resume falling and the dollar remains in demand as a safe haven currency, the pair may rise further.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above …
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