EUR/USD analysis, chart, and trading idea

The trend is descending. The currency pair is trading in the range of the upper border of the descending price channel and the 200 moving average. The Awesome Oscillator indicator shows bearish divergence, and the Stochastic Oscillator indicator signals overbought.

Trading idea:

Sell on the formation of a descending wave structure, where wave (A) breaks the inclined channel of the ascending structure.

Stop Loss: 0.9880.

Target levels: 0.9750; 0.9670.