EUR/USD Trading Analysis (01/08/2024)
The moving average of the RSI indicator rebounded from the oversold level of 30 on the H4 timeframe. The downward truncated wave structure ended with the breach of the pivot 2 of the wave C. There is a bullish divergence on the Awesome Oscillator.
Trading idea:
- Buy on the breach of 1.0835.
- Stop-loss at 1.0797.
- Price targets at 1.0875 and 1.0920.
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