EUR/USD, GBP/USD & XAU/USD Trading Analytics as of 31/01/2023
Analytics review of popular trading pairs, based on complex analysis of modified waves, Fibonacci levels and price channels
EUR/USD
The trend is ascending. Downward wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
Trading idea:
Buy at the formation of the ascending wave structure;
Stop-loss: under the local minimum of the descending structure (1.0836);
Target price levels: 1.0887, 1.0928;
The trading strategy: along with the current ascending trend.
GBP/USD
The overall trend is ascending. The pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
Trading idea:
Buy at the formation of the ascending wave structure, when the (A) wave breaches the sloping channel of the descending truncated structure;
Stop-loss: under the local minimum of the descending structure (1.2330);
Target price levels: 1.2390, 1.2418;
The trading strategy: along with the current ascending trend.
XAU/USD
The overall trend is ascending. The pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
Trading idea:
Buy at the formation of the ascending wave structure, when the (A) wave breaches the sloping channel of the descending truncated structure;
Stop-loss: under the local minimum of the descending structure;
Target price levels: 1940.00; 1948.80;
The trading strategy: along with the current ascending trend.
