AUD/CAD Trading Analysis (14/08/2024)

The trend is descending. The currency pair is trading in the range between 365 and 135 ЕМА. The upward 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 0.9106.
• Price targets at 0.9030; 0.8960.

#audcad #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor