Analysis of the divergence of EUR / USD for November 28. Eurocurrency is preparing to roll back

4h

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The EUR / USD is consolidated below the correction level of 100.0% - 1.1303. As a result, on November 28, the process of falling quotations can be continued in the direction of the next correction level of 127.2% - 1.1162. More so, there is a bullish divergence at the CCI indicator. Also, education will allow traders to expect a reversal in favor of the European currency and some growth. Closing the pair above the Fibo level of 100.0% will similarly work in favor of the beginning of growth.

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

Daily

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As we can see on the 24-hour chart, the EUR / USD pair fell to the correctional level of 127.2% - 1.1285. Rebounding the pair's quotations from the Fibo level of 127.2% will allow traders to count on a turn in favor of the EU currency and the beginning of growth in the direction of the correction level of 100.0% - 1.1553. Fixing the pair below the Fibo level of 127.2% will increase the probability of a further fall in the direction of the next level of correction 161.8% - 1.0941.

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

Recommendations to traders:

You can make purchases of the EUR / USD pair with a target of 1.1423 and a Stop Loss order below the Fibo level of 100.0%, if the pair closes above the level of 1.1303, especially in conjunction with bullish divergence.

New sales of the EUR / USD pair will be possible with the goal of 1.1162 with a Stop Loss order above the Fibo level of 100.0%, if the pair performs a low bullish divergence passage.

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