AUD/CAD Trading Analysis (03/10/2024)
The trend is ascending. The downward wave structure is truncated. The currency pair is trading in the range between 365 and 135 ЕМА and near the lower boundary of the ascending price channel. The Stochastic Oscillator signals an overbought condition.
Trading idea:
- Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the descending truncated structure.
- Stop-loss at 0.9269.
- Price targets at 0.9315 and 0.9376.
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