EUR/AUD Trading Analysis (06/11/2024)
The trend is ascending. The currency pair is trading in the range between 365 and 135 ЕМАs. The downward wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy at the beginning of the formation of the ascending wave structure, when wave A breaches 1.64278 (pivot 2 of wave С).
- Stop-loss at 1.63980.
- Price targets at 1.65000 and 1.65950.
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