EUR/ZAR Trading Analysis (15/10/2024)

The trend is descending. The upward wave structure is truncated. The currency pair is trading in the range between 365 and 135 ЕМА. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

• Sell at the beginning of the formation of the descending wave structure, when wave A breaks the sloping channel of the ascending truncated structure.
• Stop-loss at 19.2100.
• Price targets at 19.1150 and 18.9950.

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