EUR/USD Trading Analysis (16/09/2024)
Bears are testing the support level at the USDX level. The currency pair is trading in the range between 365 and 135 ЕМА. 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 ascending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 1.1106 over the local minimum of the ascending structure.
- Price targets at 1.1050 and 1.1006.
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