EUR/USD Divergence Hinting Possible Rejection From POC Zone

2 min read
Davin Wu

Davin Wu

Market Analyst and Educator

Dear Traders,

The EUR/USD has formed a bullish divergence with price preparing for a possible bullish rejection. Bullish divergence happens when price makes a lower low while the oscillator makes a higher low. Price is currently approaching strong support area, 1.2000-10 zone in confluence with 2/8 , W L4 and D L5 area. Targets are 1.3320 [6/8 // Previous Swing High] and 1.1400 W H4. Have in mind that price needs to stay above 1.1190 for divergence to remain stable. A move below 1.1190 would signal additional bearish strength and an extended target of 1.1125 area, W L5

 

The analysis has been done with the CAMMACD.MTF template.

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Cheers and trade safe, Davin Wu

Elite CurrenSea

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