Gold was unable to break the support level 1700, as it tested this level with the closing of last week's trading, and rebounded from it to the upside in a correction of the descending path to the moving average level 20, which formed the first resistance areas for the price. …
The GBP/USD pair achieved its target and reached the resistance level at the average 50 as an upward correction move, and therefore we are likely to see the price return to the downside, as the 50 EMA is in the form of price resistance near the upper line of the …
#GLEN
The general trend is ascendant. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy when the ascendant wave structure forms, where the wave (A) breaches the inclined channel of the descendant truncated structure.
Stop-loss: 3.9560.
Target levels: 4.4300; …
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