4h
The currency pair EUR / USD on the 4-hour chart continues falling quotations and performed fixing under the correction level of 127.2% - 1.1431. As a result, on August 13, the process of falling can be continued in the direction of the next level of Fibo 161.8% - 1.1333. Today, there are no visible divergence in any indicator. The end of the quotations from the correction level of 161.8% will allow traders to expect a turn in favor of the euro and some growth in the direction of the Fibo level of 127.2% - 1.1431. The consolidation of the exchange rate under the correction level of 161.8% will increase the chances of further falling towards the next corrective level of 200.0% - 1.1227.
The Fibo grid is built on extremes from June 21, 2018 and July 9, 2018.
Daily
On the 24-hour chart, the pair performed a fixation below the Fibo level of 100.0% - 1.1553. Thus, the drop in quotations continues in the direction of the next correction level of 127.2% - 1.1285. The pair's retracement from the Fibo level of 127.2% will work in favor of the EU currency and the beginning of growth towards the corrective level of 100.0% - 1.1553. There are no maturing divergences today. Fixing the quotes below the Fibo level of 127.2% will increase the chances of continuing the fall towards the next correction level of 161.8% - 1.0941.
The Fibo grid is built on extremes from November 7, 2017 and February 16, 2018.
Recommendations for traders:
Purchases of the EUR / USD pair will be possible with the goal of 1.1431 with a stop loss order under the Fibo level of 161.8% if the pair retires from the correction level of 1.1333.
Sales of the EUR / USD pair can be held at 1.1333, as the pair completed the close under the Fibo level of 127.2%, with the Stop Loss order above 1.1431.
