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The overall trend is downward. A false breakout of the previous maximum has formed. A head-and-shoulders reversal pattern is probably forming. Breaking the neck line will result in the formation of a descending wave pattern within the overall downward trend. A bearish divergence has been formed on Awesome Oscillator.

Trading …

The pair is trading above 1.0990 amid the positive US employment data released by ADP on Wednesday. The pair may correct upward, but is likely to continue dropping due to the probably strong new jobs data to b realeased by the Department of Labor on Friday.

The price is below …

The support level of 29.00 holds back sellers. Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator signals oversoldness. Breaking through the resistance level of 29.57 will result in the formation of an ascending wave pattern.

Trading recommendations:

Buy above 29.57.

Stop loss below the level of 29.00.

Target …

The pair remains in a short-term uptrend caused by the falling demand for crude oil as the consumption rates are expected to drop due to the new coronavirus in China. If the current market sentiment remains, the pair will be pushed upwards.

The price is above the middle Bollinger band, …

The support level of 1.1033 holds back sellers. A descending truncated pattern of the H1 level has formed, which is probably a correction of the ascending pattern of the H4 level. Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Buy while an ascending pattern is forming, where the wave (aC) breaks …

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce to the tenth session in fourteen sessions from its highest since May 23 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on …

Gold price futures oscillated in a narrow range tilted back down during the Asian session to witness its bounce for the second consecutive session from its highest since January 8, when it tested its highest since March 22, 2013 amid the rise in the US dollar index for the third …

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its bounce to the fifteenth session in twenty-six sessions from its highest since the seventh of August against the US dollar on the threshold of developments and economic data expected today …

The Australian dollar versus the US dollar continues to rise quietly, approaching a sub-resistance test that formed at the previously broken 0.6754 level, while the moving average constitutes 50 continuous negative pressure against the price, waiting for the resumption of the downtrend that targets exceeding 0.6670 to open the way …