The price pivot zone of 82.00 held back buyers. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator indicator signals overbought conditions. The 5 EMA crossed the 22 EMA from top to bottom, after that the price returned to the moving range.
The ascending pattern of the H2 level is truncated. The currency pair is trading in the range of 365 and 135 moving averages directed downwards. Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overbought conditions.
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Trading idea:
Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated pattern of the H2 level.
Stop Loss for the local maximum of the H2 level pattern.
Target levels: 80.20 (a trap for pros); 79.38 (138.2% Fib. from A H8)