EUR/USD Trading Analysis (28/05/2024)

Bulls are testing the upper border of the descending price channel again. The entry point at the pullback B with the truncated C is forming. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator shows the overbought state.

Trading idea:

Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.

Stop-Loss at 1.08840.

Target price levels at 1.0820 and 1.0780.

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