AUD/CAD Trading Analysis (11/01/2024)
The trend is ascending. The upward wave structure is truncated. The currency pair is traded in the range between 365 and 135 ЕМА. The bearish divergence on the Awesome Oscillator is forming, and the Stochastic Oscillator signals the overbought state.
Trading idea:
Sell when the formation of the downward wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
Stop-Loss at 0.8988.
Target price levels at 0.8930 and 0.8900.
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