4h
The EUR / USD currency pair, after rebounding from the correction level of 76.4% - 1.1423, continues the process of falling in the direction of the corrective level of 100.0% - 1.1303. The end of the pair on November 27 from the Fibo level of 100.0% will allow traders to count on a turn in favor of the European currency and some growth in the direction of the correction level of 76.4%. There are no emerging divergences today. Fixing quotes under the Fibo level of 100.0% will increase the chances of the pair to continue falling towards the next correction level of 127.2% - 1.1162.
The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.
Daily
On the 24-hour chart, the EUR / USD pair continues to fall in the direction of the correction level of 127.2% - 1.1285, after the formation of a new bearish divergence in the CCI indicator. Rebounding the pair from the Fibo level of 127.2% will make it possible to expect a turn in favor of the EU currency and some growth in the direction of the correction level of 100.0% - 1.1553. Fixing the rate below the Fibo level of 127.2% will work in favor of a further fall in the direction of the correctional level of 161.8% - 1.0941.
The Fib net is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations to traders:
You can make purchases of the EUR / USD currency pair with a target of 1.1423 and a Stop Loss order under the Fibo level of 100.0% if the pair bounces off the level of 1.1303.
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 closes below the level of 1.1303.
The material has been provided by InstaForex Company - www.instaforex.com