The pound sterling dollar pair rebounded from the resistance level of 1.2495 to the downside and ended yesterday's trading below 1.2400 levels, thus it may have stopped the bullish correction and is heading towards achieving its bearish targets at the levels of 1.2300 then 1.2260.
The moving average 50 formed …
The EUR/USD pair rebounded from the resistance level 1.0575, and reached the first target 1.0475, which constitutes a strong support level for the price.
Technical indicators support the bullish scenario, where the 20-50 moving averages form a strong support for the price and press it to end the bearish movement. …
The general trend is descendant. The currency pair is trading between 365 and 135 moving averages. The ascendant wave structure of the M30 level is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The pivot 2 of wave C is breached.
Trading idea:
Sell when the …
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