Analysis of EUR / USD Divergences for February 4. The chances of the pair's growth remain, but fall

4h

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The currency pair EUR / USD made a return to the correctional level of 38.2% - 1.1446. The end of the pair quotes from this level will work in favor of the European currency and the beginning of growth in the direction of the correction level of 50.0% - 1.1517. The ripening divergences on February 4th are not observed in any indicator. Fixing the course of the pair below the Fibo level of 38.2% will increase the chances of a further fall in the direction of the next correction level of 23.6% - 1.1358.

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 retains high chances of continued growth of quotations in the direction of the correction level of 100.0% - 1.1553. Resetting the pair's quotes from this level will allow traders to count on a reversal in favor of the American currency and a slight drop in the direction of the Fibo level of 127.2% - 1.1285. Fixing the pair above 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 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 aim of 1.1517 if the pair rebounds from the correction level of 38.2%, and with a Stop Loss order under 1.1446.

Sales of the currency pair EUR / USD can be made with the target of 1.1358 with a Stop Loss order above the Fibo level of 38.2% if the pair closes below the level of 1.1446.

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