4h
The EUR / USD pair on the 4-hour chart executed the fixation under the correction level of 76.4% - 1.1589. As a result, on June 28, the process of falling quotations can be continued in the direction of the next corrective level of 100.0% - 1,1508. The retreat of the pair from the Fibo level of 100.0% will allow traders to count on a turn in favor of the euro and a return to the correction level of 76.4%. Fixing the pair below the Fibo level of 100.0% will increase the chances of further falling towards the next correction level of 127.2% - 1.1415.
The Fibo grid is built on extremes from May 29, 2018, and June 14, 2018.
Daily
On the 24-hour chart, the pair quotes performed a return to the correction level of 100.0% - 1.1553. The pair's exit from the Fibo level of 100.0% will allow traders to expect a turn in favor of the EU currency and some growth towards the correctional level of 76.4% - 1.1789. Brewing divergences today is not observed in any indicator. Fixing the pair below the Fibo level of 100.0% will increase the chances of continuing the fall towards the next correction level of 127.2% - 1.1285.
The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.
Recommendations for traders:
Buy EUR / USD will be possible with a target of 1.1589, and with a Stop Loss order under the correction level of 100.0%, if there is a retreat from the Fibo level 1,1508.
Sales of the EUR / USD pair can be held for 1,1508, as there was a close under the correction level of 76.4%, and with a Stop Loss order above 1.1589.
The material has been provided by InstaForex Company - www.instaforex.com