USD/CAD Trading Analysis (29/04/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structures are truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator shows the overbought 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 the local minimum of the descending structure.

Target price levels at 1.3730 and 1.3820.

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