GBP/NZD Trading Analysis (14/10/2024)
The trend is ascending. The downward truncated wave structure finished with the breach of the sloping channel. The currency pair is trading in the range between 365 and 135 ЕМА. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy on the formation of the ascending wave structure when the A-wave breaches the sloping channel of the descending truncated structure.
- Sto-loss at 2.1363.
- Price targets at 2.1534 and 2.1590.
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