EUR/USD Confluence of Divergence and Falling Wedge

2 min read
Davinwu

Davinwu

Author

Dear Traders,

The EUR/USD has formed a falling wedge in confluence of a bullish divergence, with historical rejections from 1/8 octave. A bullish divergence happens when price makes a lower low while the oscillator makes a higher low.

POC zone is 1.1190-1.1200 [D L4, 2/8]. Should we see a bullish rejection from this zone, targets will be 1.1230 [Previous Swing Low, D H4, 4/8] and 1.1245 [W H1, D H5, 5/8], eventually reaching 1.13154 W H4 levels if volatility and momentum returns.

For divergence to remain stable, price should not close below 1.1180 [D L5, W L3, 1/8, ATR Projection Low]

The analysis has been done with the
CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Davin Wu aka AmbitionFX

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of