4h
The EUR / USD currency pair reversed in favor of the American currency and consolidation below the correction level of 76.4% - 1.1423. As a result, the process of falling quotations can be continued on December 24 in the direction of the next correction level of 100.0% - 1.1303. Overcoming divergences today are not observed in any indicator. Rebound of the pair from the Fibo level of 100.0% will work in favor of the EU currency and some growth in the direction of the correctional level of 76.4%.
The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.
Daily
On the 24-hour chart, the pair can continue the growth process in the direction of the correctional level of 100.0% - 1.1553, since the rebound from the correction level of 127.2% - 1.1285 was performed. Reversing quotes from the Fibo level of 100.0% will allow traders to expect a reversal in favor of the US dollar and a return to the level of correction of 127.2%. Fixing the pair below the Fibo level of 127.2% will increase the probability of a further fall in the direction of the next correction level of 161.8% - 1.0941.
The Fibo grid is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations to traders:
You can make purchases of the EUR / USD currency pair with a target of 1.1423 and a Stop Loss order below the Fibo level of 100.0% if the pair bounces off the level of 1.1303.
The EUR / USD currency pair can be sold now with a target of 1.1303 with a Stop Loss order above the Fibo level of 76.4%, as the pair closed below the correction level of 1.1423 (hourly chart).
