4h
The currency pair EUR / USD continues the slow process of falling in the direction of the corrective Fibo level of 23.6% - 1.1358. The CCI indicator has already formed a bullish divergence, which allows traders to count on a turn in favor of the EU currency and some growth in the direction of the correction level of 38.2% - 1.1446. Also on January 18, a bullish divergence is on the MACD indicator. The passage of the last divergence low pair will work in favor of resuming the fall in the direction of the Fibo level of 23.6% - 1.1358.
The Fibo grid is built on extremes from September 24, 2018, and November 12, 2018.
Daily
On the 24-hour chart, after rebounding from the Fibo level of 100.0% - 1.1553, the fall continues in the direction of the correctional level of 127.2% - 1.1285. There are no maturing divergences on the current chart. Rebounding the pair from the Fibo level of 127.2% will allow traders to expect a reversal in favor of the euro and some growth towards the level of 100.0%. Closing the pair below the 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:
Purchases of the EUR / USD currency pair can be made now with a target of 1.1446 and a Stop Loss order under the bullish divergence low from the CCI indicator.
New sales of the EUR / USD currency pair will be possible with the goal of 1.1269 with a Stop Loss order above the Fibo level of 23.6% if the pair consolidates below the level of 1.1358.
