4h
The EUR / USD currency pair on the 4-hour chart cleared the correction level of 76.4% - 1.1675, the turn in favor of the European currency and the growth to the level of Fibo 100.0% - 1.1791. Quit of quotations from the correction level of 100.0% will allow traders to count on a reversal in favor of the EU currency and a slight drop towards the Fibo level of 76.4%. On September 21, there are no divergent divergences. Fixing the pair above the correction level of 100.0% will increase the probability of continuing growth towards the next Fibo level of 127.2% - 1.1927.
The Fibo grid is built on extremes from July 9, 2018, and August 15, 2018.
Daily
On the 24-hour chart, the pair's quotes nevertheless fulfilled the growth to the correction level of 76.4% - 1.1789. The rebound of quotes from the Fibo level of 76.4% will allow traders to expect a reversal in favor of the US currency and a slight drop in the direction of the corrective level of 100.0% - 1.1553. Brewing divergences are not observed today. The consolidation of the pair's rate above the Fibo level of 76.4% will work in favor of continuing growth towards the next correction level of 61.8% - 1.1938.
The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.
Recommendations for traders:
New purchases of the EUR / USD currency pair will be possible with the goal of 1.1927 with a stop loss order under the Fibo level of 100.0% if the pair completes the closing above the correction level of 1.1791.
Sales of the EUR / USD currency pair will be possible with the target of 1.1675 with a Stop Loss order above the Fibo level of 100.0% if the pair retires from the correction level of 1.1791.
The material has been provided by InstaForex Company - www.instaforex.com