USD/CAD Trading Analysis (31/05/2024)

The trend is ascending. 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 moving averages of the Stochastic Oscillator are out of the oversold zone.

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 1.3660 (under the local minimum of the downward structure).

Target price levels at 1.3720 and 1.3734.

#usdcad #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor