The support level at 359.50 held back sellers. Breaking through the price pivot zone of 369.10 will let the 1-2-3 ascending pattern to be formed. Stochastic Oscillator signals oversoldness.
Trading recommendations:
Buy after the price pivot zone 369.10 is broken.
Stop loss: under the support level at 359.50.
Target …
The pair price is correcting down amid the US Fed’s decision on Monday to expand its support of the national economy. It is one more important reason for the weaker US dollar. Also, the pair may go down if oil prices don’t turn down.
Technical side:
The price is under …
The correction on global markets supported by anticipation of the second COVID-19 wave, as well as slower growth forecast for the US economy, exerts pressure on higher-yield currencies including Australian dollar. Such sentiments will result in the pair’s decline.
Technical side:
The price is under the middle Bollinger band, SМА …
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