The euro against the dollar was able to break the resistance level 1.0645, to continue the bullish movement after that, and reached the first target at the upper line of the ascending channel within which it is moving, which appears on the chart. This is provided that it remains above …
The trend is descendant. The ascendant wave structure is truncated. The currency pair is traded between 365 and 135 moving averages. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel …
News of the day, Monday, 23 May
The U.S. dollar decreased on Monday, as China is set to lift its Shanghai lockdown and return to normal starting from June 1. Additionally, Beijing performed a large rate cut last week that hints at further support for the Chinese economy.
Oil prices …
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