You are here: Home > articles > Forex > Analysis of the divergence of EUR / USD for November 12th. The level of 1.13 is the key for the euro currency
Analysis of the divergence of EUR / USD for November 12th. The level of 1.13 is the key for the euro currency
November 12, 2018 10:24 amVideo
Latest News
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
- EUR/USD: trading tips for beginners for European session on May 3 May 3, 2024
- Technical Analysis – WTI futures break below 200 day-SMA May 3, 2024
- Hot forecast for EUR/USD on May 3, 2024 May 3, 2024
- Key events on May 3: fundamental analysis for beginners May 3, 2024
- Trading plan for GBP/USD on May 3. Simple tips for beginners May 3, 2024
4h
The EUR / USD currency pair, after the rebound from the correctional level of 61.8% – 1.1497, continues the process of falling in the direction of the Fibo level of 100.0% – 1.1303. The rebound of the pair on November 12 from the correction level of 100.0% will make it possible to expect a turn in favor of the EU currency and some growth towards the Fibo level of 76.4% – 1.1423. Fixing quotes under the Fibo level of 100.0% will greatly increase the likelihood of the pair falling further in the direction of the next correction level of 127.2% – 1.1162.
The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.
Daily
On the 24-hour chart, the EUR / USD currency pair also made a U-turn in favor of the American currency, after the formation of a bearish divergence at the CCI indicator, and a return to the Fibo level of 127.2% – 1.1285. The end of quotations from the correction level of 127.2% will make it possible to count on a reversal in favor of the euro currency and a slight increase in the direction of the correction level of 100.0% – 1.1553. There are no ripening divergences today. A close 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 Fibo grid is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations to traders:
You can make purchases of the EUR / USD currency pair with a target of 1.1423 and a Stop Loss order under the Fibo level of 100.0% if the pair bounces the correction level of 1.1303.
New sales of the EUR / USD currency pair will be possible with the goal 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.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: