USD/CAD Trading Analysis (31/07/2023)
The trend is descending. The upward wave structures are truncated. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
Trading idea:
Sell at the formation of the downward wave structure, where the A wave breaches the sloping channel of the upward truncated structure.
Stop-Loss: 1.3263.
Target price levels: 1.3162; 1.3100.
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