EUR/CHF Giant MTF Divergence Hinting Possible Reversal

3 min read
Davinwu

Davinwu

Forex broker

Dear Traders,

The EUR/CHF has formed a giant MTF divergence at a key order block level. Bearish divergence happens when price makes a higher high while the oscillator makes a lower high.

From the charts we can see that the price is super overextended beyond W H5 level.
We might see a rejection from 1.1305-15 zone within the key order block zone 1.1306-26 Targets are 1.1260 and 1.1203 with a possible continuation move on the 4h close below 1.1230. Extended target is 1.1694, previous H4 swing low.
Have in mind that price needs to stay below 1.3530 for divergence to remain stable. A move above 1.1350 would signal bullish strength and a possibility for a retest of 1.1444, February highs.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Davin Wu aka AmbitionFX
Elite CurrenSea

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