EUR/ZAR Trading Analysis (12/07/2024)
The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
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 19.5080.
- Price targets at 19.8000 and 20.0000.
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