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.
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Many green pips,
Davin Wu aka AmbitionFX
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