Analysis based on round-number levels, price channels and modified Elliot Waves
The overall movement is upward. The pair is trading in the range of 365 and 150 moving averages. Bullish divergence has formed on Awesome Oscillator indicator, and the Stochastic Oscillator indicator shows an exit from the oversold zone. Breaking …
The pair corrected up to 0.6770 due the partial profit taking. If it holds above this level, it is likely that the pair will resume growth on the recovery of demand for risky assets recovers.
The price is above the middle Bollinger band, below SMA 5 and at SMA 14.RSI …
The downward price channel is broken. A bullish divergence has formed on Awesome Oscillator indicator. Stochastic Oscillator indicator has left the oversold zone and its moving averages are directed upwards. The nearest resistance level is 19.47.
Trading recommendations:
Buy above 19.47.
Stop loss – 18.15.
Target levels – 21.00; 23.26.
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