4h
The EUR / USD currency pair rebounded from the correctional level of 100.0% - 1.1303 and a turn in favor of the euro currency. As a result, on December 13, you can count on continued growth in the direction of the Fibo level of 76.4% - 1.1423. Quoting the quotes from the correction level of 76.4% will make it possible to expect a reversal in favor of the American currency and a slight drop in the direction of the correction level of 100.0%. Closing the rate of the pair above the Fibo level of 76.4% will increase the likelihood of further growth in the direction of the next correction level of 61.8% - 1.1497.
The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.
Daily
On the 24-hour chart, the pair retains the possibility of growth in the direction of the corrective level of 100.0% - 1.1553. In general, the pair is trading slightly above the correction level of 127.2% - 1.1285. Overcoming divergences today are not observed in any indicator. Fixing quotations below the Fibo level of 127.2% can be interpreted as a reversal in favor of the US currency and we expect the pair to fall in the direction of the correction level of 161.8% - 1.0941.
The Fib net is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations to traders:
Purchases of the EUR / USD currency pair can be carried out now with a target of 1.1423 and a Stop Loss order under the Fibo level of 100.0% since the pair has completed the rebound from the level of 1.1303.
Sales of the EUR / USD currency pair will be possible with the goal of 1.1303 with a Stop Loss order above the Fibo level of 76.4% if the pair bounces off of the correction level of 1.1423 (hourly chart).
