4h
The EUR / USD currency pair on the 4-hour chart reversed in favor of the US dollar and began the decline in the direction of the correction level of 50.0% - 1.1546, after the bearish divergence of the CCI indicator. No new brewing divergences on September 12 are observed in any indicator. Quit of quotes from the Fibo level of 50.0% will allow traders to expect a turn in favor of the euro and a return to the correction level of 61.8% - 1,1605. Fixing the pair above the Fibo level 61.8% will similarly work in favor of the beginning of growth.
The Fibo grid is built on extremes from July 9, 2018, and August 15, 2018.
Daily
On the 24-hour chart, the pair retreated from the correction level of 100.0% to 1.1553 and a reversal in favor of the European currency. As a result, the growth process began in the direction of the correctional level of 76.4% - 1.1789. Today, there are no visible divergents in any indicator. The consolidation of quotations under the Fibo level of 100.0% can be interpreted as a reversal in favor of the US dollar and expect to resume falling in the direction of the correction level of 127.2% - 1.1285.
The Fibo grid is built on extremes from November 7, 2017 and February 16, 2018.
Recommendations for traders:
New purchases of the EUR / USD pair will be possible with the target of 1.1675 with a Stop Loss order below the Fibo level of 61.8% if the pair completes the closing above the correction level of 1.1605.
Sales of the EUR / USD pair can now be carried out with the target of 1.1546 with a Stop Loss order above the Fibo level of 61.8%, as the pair completed the closing at the level of 1.1605.
