The pair found support at 0.7705 and is making an attempt to resume growth amid positive economic statistics from Australia published today. The continued pressure on the US dollar will support the pair.
Technical side:
The price is located above the middle Bollinger band, above SMA 5 and SMA …
The overall trend is upward. The descending wave pattern is truncated (wave C didn’t break through 123.6% on Fibo). Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions.
monitor the price movement in real time.
Trading Idea:
Buy when an ascending wave pattern …
Wednesday, April 14th, today’s news—European markets rise on positive earnings, economic data, and vaccine optimism, tech and luxury stocks in the lead. Treasury yields are up following a higher-than-expected consumer inflation data, dollar is trading near a one-month low. The price of Brent oil is $64.73, WTI—$61.20, EUR/USD is at 1.1953, …
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