4h
The currency pair EUR / USD on the 4-hour chart executed a turn in favor of the US currency and consolidation under the correction level of 76.4% - 1.1675. As a result, August 31, the process of falling quotations can be continued in the direction of the next level Fibo 61.8% - 1.1605. There are no maturing divergences of the shining for any indicator. Fixing the pair above the correction level of 76.4% can be interpreted as a turn in favor of the euro and expect a certain increase in the direction of the corrective level of 100.0% - 1.1791.
The Fibo grid is built on extremes from July 9, 2018 and August 15, 2018.
Daily
On the 24-hour chart, the pair continues the growth process towards the correctional level of 76.4% - 1.1789. There was a bearish divergence in the CCI indicator, which now allows traders to count on a spread in favor of the US currency and a slight drop in the direction of the correction level of 100.0% - 1.1553. Passing a pair of the last divergence peak will work in favor of the EU currency and the resumption of growth towards the Fibo level of 76.4%. Fixing quotations above the correction level of 76.4% will increase the chances of the pair to continue growing.
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 target of 1.1791 with a stop loss order under the Fibo level of 76.4% if the pair completes the closing above the correction level of 1.1675.
Sales of the EUR / USD pair can now be carried out with the target of 1.1605, as the pair completed the closing at the Fibo level of 76.4%, with the Stop Loss order above the level of 1.1675.
