4h
The EUR / USD is consolidated below the correction level of 100.0% - 1.1303. As a result, on November 28, the process of falling quotations can be continued in the direction of the next correction level of 127.2% - 1.1162. More so, there is a bullish divergence at the CCI indicator. Also, education will allow traders to expect a reversal in favor of the European currency and some growth. Closing the pair above the Fibo level of 100.0% will similarly work in favor of the beginning of growth.
The Fibo grid is built on extremes from August 15, 2018 and September 24, 2018.
Daily
As we can see on the 24-hour chart, the EUR / USD pair fell to the correctional level of 127.2% - 1.1285. Rebounding the pair's quotations from the Fibo level of 127.2% will allow traders to count on a turn in favor of the EU currency and the beginning of growth in the direction of the correction level of 100.0% - 1.1553. Fixing the pair below the Fibo level of 127.2% will increase the probability of a further fall in the direction of the next level of correction 161.8% - 1.0941.
The Fib net is built on extremums from November 7, 2017 to February 16, 2018.
Recommendations to traders:
You can make purchases of the EUR / USD pair with a target of 1.1423 and a Stop Loss order below the Fibo level of 100.0%, if the pair closes above the level of 1.1303, especially in conjunction with bullish divergence.
New sales of the EUR / USD pair will be possible with the goal of 1.1162 with a Stop Loss order above the Fibo level of 100.0%, if the pair performs a low bullish divergence passage.
The material has been provided by InstaForex Company - www.instaforex.com