USD/CAD Trading Analysis (06/08/2024)
The trend is ascending. The currency pair is trading in the range between 365 and 135 ЕМА. The downward truncated wave structure finished with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy at the breach of 1.3827.
- Stop-loss at 1.3792.
- Price targets at 1.3864 and 1.3920.
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