The stock is trading in the range of 365 and 135 moving averages. Stochastic Oscillator signals overboughtness. Breaking through the price pivot zone of 34.68 will result in the formation of a descending wave pattern.
Trading recommendations:
Sell below 34.68.
Stop loss – 36.40.
Target levels – 32.71; 30.50. …
The pair has fully formed the descending flag trend continuation pattern. It’s supported by the increased demand for risk assets, the revitalization of China-Australia trade, as well as the possible weakening of the US dollar amid the unprecedented stimulus measures by the Fed and the US Treasury.
Technical side: …
The US dollar fell during the Asian session to witness its lowest since April 15, when it tested the lowest since the beginning of this month against the Japanese yen after the developments and economic data that were reported by the Japanese economy and amid the scarcity of economic data …
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