Analysis of the EUR / USD Divergences for December 17th. Now, the euro saves from a new fall of 1.1268

4h

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The EUR / USD currency pair closed below the correction level of 100.0% - 1.1303, but in the last hours, it made a U-turn to benefit from the euro and return to this level. As a result, the growth of quotations can be continued on December 17 in the direction of the correctional level of 76.4% - 1.1423. The new consolidation below the Fibo level of 100.0% can be interpreted as a reversal in favor of the American currency and the resumption of a fall in the direction of the correctional level of 127.2% - 1.1162 is expected.

The Fib net 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 returned to the correctional level of 127.2% - 1.1285. The end of quotes from this Fibo level will allow traders to count on a turn in favor of the EU currency and some growth in the direction of the correction level of 100.0% - 1.1553. Overcoming divergences today are not observed in any indicator. Fixing the pair below the Fibo level of 127.2% will work in favor of continuing to fall in the direction of the next correction 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 made now with a target of 1.1423 and a Stop Loss order below the Fibo level of 100.0% since the pair completed the closure above the level of 1.1303.

The EUR / USD currency pair can be sold with a target of 1.1162 with a Stop Loss order above the Fibo level of 100.0% if the pair closes below the correction level of 1.1303 (hourly chart).

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