The trend is descendant. The ascendant wave structure is truncated. The currency pair is traded between 365 and 135 moving averages. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel …
News of the day, Monday, 23 May
The U.S. dollar decreased on Monday, as China is set to lift its Shanghai lockdown and return to normal starting from June 1. Additionally, Beijing performed a large rate cut last week that hints at further support for the Chinese economy.
Oil prices …
Gold broke the resistance level 1845.60 and reached the next resistance 1857.60, which is forming near the upper line of the ascending minor channel, within which the price is moving after rebounding from the support 1850.00.
Therefore, the price started giving signals to form an ascending path after it managed …
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