The RSI oscillator detects a discrepancy. The price failed to reach a new peak, while the RSI indicator rose above the previous intraday high, indicating a potential change in price movement dynamics.
The reversal signal was also recorded previously on the Stochastic indicator. Thus, the several reversal patterns at ones are noted on the chart. It increases the probability of the formation of a reversal scenario.
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.
When it comes to USDCHF short positions now look more preferable. For aggressive trading, a trader can enter the market at the current prices. Advocates of a more conservative strategy should wait for the level to be retested.
📌 Entry: 0.79558
✔️ First target: 0.78722
✔️ Second target: 0.77565
❌ Stop order: 0.80323
USDCHF H4: Divergence on RSI strengthens the previously received downward signal from Stochastic
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