Analysis of the divergence of EUR / USD for November 23. To continue the growth of the euro, a breakthrough in the level

4h

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The EUR / USD currency pair reversed in favor of the European currency, after the formation of the bullish divergence of the CCI indicator, and the return to the correction level of 76.4% - 1.1423. Reversing the quotations from the Fibo level of 76.4% will allow traders to count on a reversal in favor of the US dollar and a resumption of decline in the direction of the correction level of 100.0% - 1.1303. Fixing the pair above the Fibo level of 76.4% will increase the pair's chances for further growth in the direction of the next correction level of 61.8% - 1.1497.

The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.

Daily

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On the 24-hour chart, the EUR / USD currency pair reversed in favor of the US currency after the formation of a bearish divergence in the CCI indicator. Thus, it is expected to continue falling in the direction of the correctional level of 127.2% - 1.1285. A pair of the last divergence peak will work in favor of the European currency and the resumption of growth in the direction of the Fibo level of 100.0% - 1.1553. Fixing the pair over the correction level of 100.0% will increase the likelihood of continued growth in the direction of the next Fibo level of 76.4% - 1.1789.

The Fib net is built on extremums from November 7, 2017, and February 16, 2018.

Recommendations to traders:

You can make purchases of the EUR / USD currency pair with a target of 1.1497 and a Stop Loss order below the Fibo level of 76.4% if the pair closes above the 1.1423 level.

Selling of the EUR / USD currency pair will be possible with the target of 1.1303 with a Stop Loss order above the Fibo level of 76.4% if the pair performs a new rebound from the correction level of 1.1423.

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