Analysis of the divergence of EUR / USD for December 14. The euro is barely holding above 1.13.

4h

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The currency pair EUR / USD, after the rebound from the correction level of 100.0% - 1.1303, performed a reversal in favor of the European currency and retains the likelihood of continued growth in the direction of the correctional level of 76.4% - 1.1423. Overcoming divergences today are not observed in any indicator. Rebounding the rate of the pair on December 14 from the Fibo level of 76.4% will make it possible to expect a reversal in favor of the US dollar and a slight drop in the direction of the correction level of 100.0%.

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 currency pair still retains the possibility of growth in the direction of the Fibo level of 100.0% - 1.1553, since the rebound from the level of 127.2% was performed. However, it is not possible to continue growth. Fixing the pair quotes under the correction level of 127.2% - 1.1285 can be interpreted as a reversal in favor of the American currency and you can expect some fall in the direction of the correctional level of 161.8% - 1.0941.

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 carried out now with a target of 1.1423 and a Stop Loss order under the Fibo level of 100.0% since the pair has completed the rebound from the 1.1303 level.

Sales of the EUR / USD currency pair will be possible with the goal of 1.1303 with a Stop Loss order above the Fibo level of 76.4% if the pair bounces off the correction level of 1.1423 (hourly chart).

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