Analysis of the divergence of EUR / USD on February 6. Euro falls again to its annual lows.

4h

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The currency pair EUR / USD continues to fall in quotations in the direction of the correctional level of 23.6% - 1.1358. The end of the pair's February 6 exchange rate from the Fibo level of 23.6% will allow traders to expect a reversal in favor of the euro currency and some growth in the direction of the next correction level of 38.2% - 1.1446. There is no indicator of the emerging divergences today. Fixing the pair below the Fibo level of 23.6% will increase the probability of a further fall in the direction of the level of 1.1269.

The Fibo grid was built on extremums from September 24, 2018, and November 12, 2018.

Daily

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On the 24-hour chart, the pair reversed in favor of the American dollar and began the process of returning to the level of correction 127.2% - 1.1285. Rebounding the pair from this level will allow us to expect a reversal in favor of the European currency and the beginning of new growth in the direction of the correctional level of 100.0% - 1.1553. The closing of quotations below the Fibo level of 127.2% will work in favor of continuing the fall in the direction of the next correction level of 161.8% - 1.0941.

The Fibo grid is built on extremums from November 7, 2017, and February 16, 2018.

Recommendations to traders:

Purchases of the currency pair EUR / USD can be carried out with the target of 1.1446 if the pair rebounds from the correction level of 38.2%, and with a Stop Loss order under 1.1358.

Sales of the currency pair EUR / USD can be continued to carry out now with the goal of 1.1358, as the pair completed closing below the level of 1.1446.

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