The general trend is descendant. The ascendant truncated wave structure has finished breaching the inclined channel. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the 1.7230 level is breached.
Stop-loss: 1.7358.
Target levels: 1.7138; 1.7000.
News of the day, Tuesday, May 31
European stocks decreased as the key eurozone inflation data is to be published soon, which could increase concerns about possible interest rate hikes. The DAX in Germany traded 0.7% lower, the CAC 40 of France dipped 0,9%, while the FTSE 100 of the …
Gold continues the sideways movement in a narrow range between the resistance 1860.00 and the support 1845.00 for the second day, where there was no change in the movement. Let's remain neutral in determining the general course of the movement, since the price is moving near an important support level, …
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