NZD/CAD Trading Analysis (06/07/2023)

The general trend is descending. The uptrend wave structure is truncated. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
 

Trading idea:

Sell at the formation of the descending wave structure, where the A wave breaches the sloping channel of the uptrend truncated structure.

Stop-Loss over the local minimum of the ascending structure (0.8233).

Target price levels: 0.8164, 0.8050.


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