The EUR/USD pair achieved its first ascending target and reached the resistance 1.0750. Where the price continues to move within the ascending channel, which constitutes the initial path of the price and the limits of the price movement.
We are likely to see some bearish correction to the 1.0645 support …
The trend is descendant. The descendant wave structures are truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The support level of 0.7128 restrains buyers.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated …
News of the day, Tuesday, May 24
Oil prices decreased more than $1 today as concerns over recession possibility and China’s COVID-19 strict lockdowns outweighed expectations of tight supply and an increase in fuel demand in the USA.
European shares decreased sharply today at the open, joining the global selloff. …
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