EUR/USD, GBP/USD & XAU/USD Trading Analytics as of 27/01/2023
Analytics review of popular trading pairs, based on complex analysis of modified waves, Fibonacci levels and price channels
EUR/USD
The formation of the upward truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
Trading idea:
Sell at the breach of 1.0850;
Stop-loss: over the local maximum 1.0928;
Target price levels: 1.0782; 1.0650;
The trading strategy: counter-trend.
GBP/USD
The overall trend is ascending. Yesterday, we advised to buy this pair in the moment of the formation of the ascending wave structure. Currently, there is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. We recommend to consider new purchase again after the price repeatedly slopes to the range between 365 and 135 ЕМА.
Trading idea:
After the slope to the range between 365 and 135 ЕМА, one must draw the sloping channel along with the descending structure. Buy when the downward wave structure finishes with the breach of the sloping channel of the ascending structure;
Stop-loss: under the local minimum of the descending structure;
Target price level: 1.2435;
The trading strategy: along with the current ascending trend.
XAU/USD
The overall trend is ascending. The asset is traded in the range between 365 and 135. 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 level: 1949.0;
The trading strategy: along with the current ascending trend.
