EUR/USD, GBP/USD & XAU/USD Trading Analytics as of 03/02/2023
Analytics review of popular trading pairs, based on complex analysis of modified waves, Fibonacci levels and price channels
EUR/USD
The trend is ascending. The formation of the descending truncated wave structure has finished, the price is currently in the range between 365 and 135 ЕМА. 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 (1.08830);
Target price levels: 1.0950, 1.1020;
The trading strategy: along with the current ascending trend.
GBP/USD
The overall trend is ascending. The descending wave structure is truncated. The currency pair is traded in the whereabouts of the rounded important level of 1.2200. 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 rounded secondary level of 1.2220;
Stop-loss by the psychologically important level of 1.2200;
Target price levels: 1.2300, 1.2400;
The trading strategy: along with the current ascending trend.
XAU/USD
The overall trend is ascending. Bears attempted to test 365 ЕМА. The Stochastic Oscillator signals the oversold state. The breach of 1918.60 will start the formation of the ascending wave structure.
Trading idea:
Buy at the breach of 1918.60;
Stop-loss: 1910.00;
Target price levels: 1932.70, 1957.00;
The trading strategy: along with the current ascending trend.
