4h
On Friday, without any divergence or rebound, the EUR / USD currency pair reversed in favor of the American currency and consolidation under the correction level of 50.0% - 1.1558. As a result, on October 15, the process of falling quotations can be continued in the direction of the next correction level of 61.8% - 1.1497. There are no emerging divergences today. Fixing the pair above the Fibo level of 50.0% can be interpreted as a reversal in favor of the EU currency and the resumption of growth in the direction of the correction level of 38.2% - 1.1620 is expected.
The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.
Daily
On the 24-hour chart, the pair quotes completed the close above the Fibo level of 100.0% - 1.1553. Thus, the growth of quotations can be continued in the direction of the next level of correction 76.4% - 1.1789. There are no maturing divergences on the current chart either. Fixing the pair below the Fibo level of 100.0% will work in favor of the European currency and resuming the fall in the direction of the correctional level of 127.2% - 1.1285.
The Fib net is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations to traders:
Purchases of the EUR / USD currency pair can be opened with a target of 1.1620 and a Stop Loss order under the Fibo level of 50.0% if the pair closes above the correction level of 1.1558.
The EUR / USD currency pair can be sold now with a target of 1.1497 with a Stop Loss order above the Fibo level of 50.0%, as the pair completed closing below the correction level of 1.1558.
The material has been provided by InstaForex Company - www.instaforex.com