4h
The EUR / USD pair on the 4-hour chart reversed the European currency, after rebounding from the correction level of 50.0% to 1.1680, and the fixation over the Fibo level of 61.8% to 1.1721. As a result, on July 26, the growth process can be continued in the direction of the next correction level of 76.4% - 1.1771. Bearish divergence in the CCI indicator allows you to count on a reversal in favor of the US currency and a slight drop in quotations. Strengthening the rate of the pair below the Fibo level of 61.8% will increase the chances of falling in the direction of the corrective level of 50.0% - 1.1680.
The Fibo grid is built on the extremes of June 14, 2018, and June 21, 2018.
Daily
On the 24-hour chart, the bullish divergence of the CCI indicator still allows the growth of quotations to be expected in the direction of the correction level of 76.4% - 1.1789. The pair's retracement from the Fibo level of 76.4% will allow us to count on a reversal in favor of the US dollar and a slight drop towards the correction level of 100.0% - 1.1553. Fixing the quotes above the Fibo level of 76.4% will increase the pair's chances for further growth in the direction of the next correction level of 61.8% - 1.1938.
The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.
Recommendations for traders:
New purchases of the pair EUR / USD on July 26 can be opened with the target of 1,1771 and the Stop Loss level under the correction level of 61.8% if the last peak of the bearish divergence breaks out.
To sell the EUR / USD pair will be possible with the target of 1,1680 if the Fibo level is closed at 61.8%, with a Stop Loss order above the correction level of 1.1721.
The material has been provided by InstaForex Company - www.instaforex.com