4h
The EUR / USD currency pair reversed in favor of the EU currency with a consolidation above the level of correction of 23.6% - 1.1358, after the formation of a bullish divergence in the CCI indicator. As a result, on January 4, the pair growth process can be continued in the direction of the next Fibo level of 38.2% - 1.1446. None of the indicators have maturing divergences on the current chart. Rebound of the pair from the Fibo level of 38.2% will work in favor of the American currency and return to the correctional level of 23.6%.
The Fibo grid is built on extremes from September 24, 2018, and November 12, 2018.
Daily
On the 24-hour chart, the currency pair reversed in favor of the US dollar and continues the process of returning to the correctional level of 127.2% - 1.1285. Rebounding the pair from the Fibo level of 127.2% will allow us to count on a turn in favor of the euro currency and the resumption of growth in the direction of the correction level of 100.0% - 1.1553. Fixing quotes below the Fibo level of 127.2% will increase the probability of the pair to continue falling 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:
Purchases of the EUR / USD currency pair can be made now with a target of 1.1446 and a Stop Loss order below the Fibo level of 23.6% since the pair completed the closing above the level of 1.1358.
Sales of the EUR / USD currency pair can be carried out with the target of 1.1358 with a Stop Loss order above the Fibo level of 38.2% if the pair rebounds the correction level of 1.1446.
