EUR/AUD Trading Analysis (26/08/2024)
Bears are testing the 200 ЕМА level on the H4 timeframe. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the RSI indicator signals the oversold state.
Trading idea:
- Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.
- Stop-loss at 1.6448.
- Price targets at 1.6650 and 1.6750.
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