The overall trend is upward. The 1.2410 support level is holding back sellers. The descending (blue) pattern ended with the breakout of an inclined channel. Bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator showed an exit from the oversold zone. Breaking through the resistance level …
The trend continuation pattern Flag has formed on the chart. The support level of 182.60 is holding back sellers, and the price pivot zone of 188.44 is holding back buyers. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversold. A breakthrough of the price pivot zone …
The pair is consolidating below 108.00 as the global demand for risk assets cautious recovers stimulated by the late last week’s news on the successful COVID-19 drug trial in the US. Any positive news in this regard will push the pair to growth.
Technical side:
The price is above …
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