USD/ZAR Trading Analysis (22/10/2024)

The trend is ascending. The downtrend wave structure is truncated. The currency pair is trading in a range between 365 and 135 ЕМА. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals a bullish divergence.

Trading idea:

• Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the descending truncated structure.
• Stop-loss at 17.5120.
• Price targets at 17.7452 and 17.7950.

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