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EUR/AUD Trading Analysis (26/08/2024)

26.08.2024

Market Review

Bears are testing the 200 ЕМА level on the H4 timeframe. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the RSI indicator signals the oversold state.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.
Stop-loss at 1.6448.
Price targets at 1.6650 and 1.6750.

#euraud #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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