NZD/CAD Trading Analysis (05/09/2023)
The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. The Stochastic Oscillator signals the oversold state.
Trading idea:
Buy at the formation of the ascending wave structure, when the A-wave breaches the sloping channel of the downward truncated structure.
Stop-Loss: under the local minimum of the downward structure.
Target price levels: 0.8080, 0.8120.
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