The overall trend is upward. The descending pattern of the H2 level is truncated. The internal pattern of the M30 level is also truncated. A reversal wave model has formed. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions. The “hammer” reversal pattern has formed on the H4 timeframe.
Trading idea:
Buy a pair when an ascending wave pattern is formed, where wave (A) breaks through the pivot 2 of wave (C) – 0.7737 of the descending H2 level pattern.
Stop Loss: 0.7689.
Target levels: 0.7812; 0.7890.