AUD/CHF Trading Analysis (09/08/2024)
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 bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the 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 over the local maximum of the ascending structure at 0.5725.
- Price targets at 0.5580 and 0.5436.
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