EUR/AUD Trading Analysis (27/08/2024)

The overall trend is up. The bearish wave structure is truncated. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an oversold condition. A triple bottom multi-candle pattern is forming.

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 1.6448 below the local minimum of the descending structure.
• Targets at 1.6580 and 1.6709.

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