4h
As seen on the 4-hour chart, the EUR/USD pair continues the growth process and closed above the retracement level of 100.0% (1.1177). As a result, on April 30, the growth process can be continued in the direction of the next Fibo level of 76.4% (1.1241). There is no single indicator of emerging divergences today. Closing the pair's rate under the retracement level of 100.0% will allow traders to expect a reversal in favor of the US currency and the resumption of the fall in the direction of the retracement level of 127.2% (1.1102).
The Fibo grid is built according to the extremes of March 7, 2019, and March 20, 2019.
Daily
As seen on the 24-hour chart, the pair performed a close under the previous two low prices, which significantly increased the chances for the continuation of the fall. However, it is already clear that the quotes of the pair on both charts performed a reversal in favor of the European currency and began to return to the Fibo level of 127.2% (1.1285). And the consolidation of the pair's rate above this level will increase the chances of continued growth in the direction of the next retracement level of 100.0% (1.1553).
The Fibo grid is built according to the extremes of November 7, 2017, and February 16, 2018.
Forecast for EUR/USD and trading recommendations:
Buy deals on EUR/USD pair can be opened with the target at 1.1241 as pair has been closing above the level of 100.0%. The stop loss order should be placed below the level of 1.1177.
Sell deals on EUR/USD pair can be opened with the target at 1.1102 if the pair closes below the retracement level of 100.0%. The stop loss order should be placed above the level of 1.1177.
