USD/CAD Trading Analysis (29/11/2024)
The trend is ascending. The currency pair is trading in the range between 365 and 135 ЕМАs. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trade idea:
- Buy at the beginning of the formation of the ascending wave structure, when the wave A breaches the sloping channel of the descending truncated structure.
- Stop-loss at 1.3980.
- Price targets at 1.4050 and 1.4120.
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