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USD/CAD Trading Analysis (15/01/2025)

The trend is ascending. The currency pair is trading in the range between 365 and 135 ЕМАs on the H1 timeframe. The downward wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

  • Buy at the beginning of the formation of the ascending wave structure, when the wave A breaches the 1.43684 level (pivot 2 of the descending structure).
  • Stop-loss at 1.4342.
  • Price targets at 1.4420 and 1.4442.

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Author: GC

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