4h
The EUR / USD currency pair has tested for strength the correction level of 100.0% - 1.1791 for the fourth time, and again performed a rebound from it. As a result, on September 27, it is expected to continue falling quotations in the direction of the correctional level of 76.4% - 1.1676. There are no emerging divergences today. The current fall in the pair can be attributed to yesterday's decision by the Fed to raise the key rate, but the fall began only tonight, that is, with the opening of Asian markets.
The Fibo grid was built on extremes from July 9, 2018, and August 15, 2018.
Daily
On the 24-hour chart, the currency pair EUR / USD traded near the Fibo level for some days at the level of 76.4% -1.1789 and still executed a turn in favor of the US dollar and began the process of falling towards the corrective level of 100.0% - 1.1553. There are no ripening divergences on the current chart either. Fixing the rate of the pair above the Fibo level of 76.4% can be interpreted as a turn in favor of the EU currency and the resumption of growth of quotations in the direction of the correctional level of 61.8% - 1.1938 is expected.
The Fib net is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations for traders:
New purchases of the EUR / USD currency pair can be made with the goal of 1.1791 with a Stop Loss order below the Fibo level of 76.4% if the pair bounces the correction level of 1.1676.
The EUR / USD currency pair can now be traded with a target of 1.1676 with a Stop Loss order above the Fibo level of 100.0%, as the pair completed the fourth retreat from the correction level of 1.1791. Hold sales will be possible to 1.1605, if there is a closure below the level of 76.4%.
The material has been provided by InstaForex Company - www.instaforex.com