EUR/CAD Trading Analysis (12/04/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 EMA. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and Stochastic Oscillator signals an oversold state.

Trading idea:

Buy at the formation of the ascending wave structure, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss at 1.4666.

Target price levels at 1.4734 and 1.4763.

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