Showing posts with label Analysis of EUR/USD divergence for March 18: pair is ready to continue moderate growth. Show all posts
Showing posts with label Analysis of EUR/USD divergence for March 18: pair is ready to continue moderate growth. Show all posts

Analysis of EUR/USD divergence for March 18: pair is ready to continue moderate growth

4h

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As seen on the 24-hour chart, the pair closed above the retracement level of 127.2% (1.1285). Thus, growth is expected to continue towards the retracement level of 100.0% (1.1553). Currently, there is no emerging divergence on the chart. If the pair closes below the Fibo level of 127.2%, it can be a sign of a reversal in favor of the American currency. Therefore, we can expect resumption of the downward trend towards the retracement level of 161.8% (1.0941).

The Fibo grid is based on extremes of November 7, 2017 and February 16, 2018.

Trading recommendations:

Buy deals on the EUR/USD pair can be opened with the target at 1.1394 if the pair closes above 1.1351. The stop loss should be placed below the retracement level of 61.8%.

Sell deals on the EUR/USD pair can be carried out with the target of 1.1299 if the pair rebounds from the level of 1.1351. The stop loss should be placed above the Fibo level of 61.8%.

The material has been provided by InstaForex Company - www.instaforex.com