EUR/USD Trading Analysis (01/11/2024)

The trend is down. The currency pair is trading in the range between 365 and 135 ЕМАs.The ascending 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 the wave A breaches the sloping channel of the ascending truncated structure.
• Stop-loss at 1.0889.
• Price targets at 1.0839 and 1.0772.

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