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NZD/CHF
The descending wave pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the truncated descending pattern.
Stop loss under the local minimum of the descending pattern.
Target levels: 0.6506; 0.6567.
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NZD/CAD Signal
The descending wave pattern of the M30 level is truncated and ended with the breakout of the inclined channel. A bullish divergence has formed on Awesome Oscillator.
The CAD index is trading in the range of the historical resistance level, and the NZD index is trading in the range of the lower limit of the ascending price channel.
Trading idea:
Buy when an ascending wave pattern is formed.
Stop loss under the local minimum of the descending truncated pattern.
Target levels: 0.8842; 0.8900.