USD/CNH Trading Analysis (24/08/2023)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downwards wave strcutures are truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 

Trading idea:

Buy at the formation of the uptrend wave structure, when the A wave breaches the sloping channel of the descending truncated structure.

Stop-Loss 7.265.

Target price levels: 7.330, 7.345.


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