The pound against the dollar continues its bearish movement after it previously achieved the bullish corrective bounce and approached the 1.2000 resistance, then returned to complete the descending path and approached its first target at the 1.1800 level.
In general, we continue to suggest the bearish path as long as …
The EURUSD pair approached the main target at the value of 1.0000, continuing the descending path extended for nearly a month. Therefore, the price is likely to be able to break this level and the target will be 0.9950.
Therefore, the bearish scenario continues to exist and is effective during …
The support level 0.8432 and the lower border of the Ichimoku cloud restrain sellers. 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 through the inclined channel of …
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