4h
As seen on the 4-hour chart, the EUR/USD pair made a U-turn in favor of the American dollar and consolidation below the Fibo level of 23.6% (1.1269), after quitting the quotes from the retracement level of 38.2% (1.1328). As a result, on March 27, the process of falling of the pair can be continued in the direction of the next retracement level of 0.0% (1.1177). New emerging divergences today are not observed in any indicator. Closing the pair above the Fibo level of 23.6% will work in favor of the EU currency and the resumption of growth in the direction of the retracement level of 38.2%.
The Fibo grid is based on extremes of January 10, 2019, and March 7, 2019.
Daily
As seen on the 24-hour chart, the pair quotes returned to the retracement level of 127.2% (1.1285) and closed below it. Thus, the fall in quotations may again continue in the direction of the Fibo level of 161.8% (1.0941). However, overall, the pair continues to trade along with the retracement level of 127.2%. Maturing divergences today are not observed in any indicator or in any of the graphs.
The Fibo grid is based on extremes of November 7, 2017, and February 16, 2018.
Trading recommendations:
Buy deals on EUR/USD pair can be opened with the target at 1.1328 if the pair closes above the level of 1.1269. The stop-loss order should be placed under the retracement level of 23.6%.
Sell deals on EUR/USD pair can be opened with the target at 1.1177, as the pair completed closing below the retracement level of 1.1269. The stop-loss order should be placed above the Fibo level of 23.6%.
The material has been provided by InstaForex Company - www.instaforex.com