XAU/EUR Trading Analysis (02/05/2024)

The trend is ascending. The gold is traded in the range between 365 and 135 ЕМА. The downward truncated wave structure finished with the breach of the sloping channel. There is bullish divergence on the Awesome Oscillator.

Trading idea:

Buy when the formation of the ascending wave structure begins.

Stop-Loss at 2141.00.

Target price levels at 2205.00 and 2275.00.

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