EUR/NZD Trading Analysis (04/07/2024)
The trend is up. The downward truncated wave structure ended with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an oversold condition. The pair is trading near the lower border of the ascending channel.
Trading idea:
- Buy on the breach of 1.7662.
- Stop-loss at 1.7641.
- Price targets at 1.7700 and 1.7727.
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