On the 4-hour chart, the EUR / USD pair declined to23.6% correctional level of 1.1269. Releasing the pair’s rate on March 25 from this Fibo level will allow traders to expect a reversal in favor of the EU currency and some growth in the direction of the 38.2% correction level at 1.1328. There is no maturing divergence in any indicator. Closing the pair below the Fibo level of 23.6% will increase the chances of a further fall in the direction of the next 0.0% correction level of 1.1177.
The Fib net was formed on boundaries from January 10, 2019 and March 7, 2019.
On the 24-hour chart, the pair quotes returned to the correction level of 127.2% – 1.1285. The price quotation from the Fibo level of 127.2% will allow traders to expect a reversal in favor of the European currency and the resumption of growth in the direction of the 100.0% correctional level at 1.1553. Closing the pair below the Fibo level of 127.2% will again work in favor of the US currency and some fall in the direction of the 61.8% correction level at 1.0941. In the last 5 months, the pair is trading between the levels of 100.0% and 127.2%.
The Fib net was formed on boundaries from November 7, 2017 and February 16, 2018.
Recommendations to traders:
Purchases of the EUR/USD pair can be made with the goal of 1.1328 and a Stop Loss order under the correction level of 23.6% if the pair rebounds from the level of 1.1269.
Sales of the EUR/USD pair can be carried out with the target of 1.1177 and a Stop Loss order above the Fibo level of 23.6% if the pair closes below the level of 1.1269.
The material has been provided by InstaForex Company – www.instaforex.com