EUR/CAD Trading Analysis (04/12/2024)
The trend is down. The pair is trading between 365 and 135 EMAs. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trading idea:
- Sell when the formation of the descending wave structure begins, when wave A breaks the sloping channel of the ascending truncated structure.
- Stop loss is out of the local maximum of the ascending truncated structure.
- Targets at 1.4724 and 1.4673.
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