EUR/USD, GBP/USD & XAU/USD Trading Analytics as of 24/01/2023
Analytics review of popular trading pairs, based on complex analysis of modified waves, Fibonacci levels and price channels
EUR/USD
The overall trend is ascending. The USD index tests the lower border of the long-term price channel, the Euro index tests the resistance level. The EUR/USD 1D-timeframe demonstrates the formation of the ‘Long-Legged Doji’ candle pattern. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
Trading idea:
Sell at the breach of 1.0845
Stop-loss is out of the local maximum 1.0930
Target price levels: 1.0761; 1.0580
The trading strategy: counter-trend
GBP/USD
The overall trend is ascending. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold situation. The slope to the range between 365 and 135 ЕМА to the mirror level of 1.2210 is probable.
Trading idea:
After the slope to the range of 365 and 135 ЕМА one must draw a sloping channel along the descending structure. Buy when the formation of the descending wave structure finishes with the breach of the sloping channel of the ascending structure
Stop-loss is out of the local minimum of the descending structure
Target price levels: 1.2435
The trading strategy: correlates with the current trend
XAU/USD
The overall trend is ascending. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold situation. The slope to the range between 365 and 135 ЕМА to the mirror level of 1880.0 is probable.
Trading idea:
After the slope to the range of 365 and 135 ЕМА one must draw a sloping channel along the descending structure. Buy when the formation of the descending wave structure finishes with the breach of the sloping channel of the ascending structure
Stop-loss is under the local minimum of the descending structure
Target price levels: 1935.0
The trading strategy correlates with the current ascending trend
