The price failed to form a new high, while the Stochastic indicator remains above the 20 level. This divergence, marked with a red line on the chart, indicates weakening of an upward momentum and increases the probability of a price decline.
The RSI is currently holding above the mark of 50. The indicator calculating formula logic suggests that, on average, the ascending movement is currently predominant.
The histogram of the MACD indicator remains above the signal line, indicating the local development of an upward movement. However, the indicator indications do not contradict the signal, marked on the chart.
As far as USDCHF is concerned, it is recommended to focus on short positions. Entry can be executed both at the current prices and upon a possible return to the resistance line.
📌 Entry: 0.80603
✔️ First target: 0.80481
✔️ Second target: 0.80394
❌ Stop order: 0.80676
USDCHF M15: A reversal signal from the Stochastic indicator
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