Analysis of the divergence of EUR / USD for November 29. The release of the pair from an important level saved the euro
November 29, 2018 7:23 am
4h
The EUR / USD pair reversed in favor of the European currency and closed above the Fib level 100.0% – 1.1303.As a result, on November 29, the growth process can be continued in the direction of the next correctional level of 76.4% – 1.1423.. More so, rebounding the course of the pair from the Fibo level of 76.4% will allow traders to expect a reversal in favor of the US dollar and a return to the correction level of 100.0%. There is no maturing divergence in any indicator. Fixing quotations above the Fibo level of 76.4% will work in favor of continuing growth in the direction of the next correction level of 61.8%.
The Fib net is built on extremes from August 15, 2018 and September 24, 2018.
Daily
On the 24-hour chart, the EUR / USD pair rebounded from the correction level 127.2% – 1.1285 and turned in favor of the EU currency. As a result, the growth process can be continued in the direction of the correctional level 100.0% – 1.1553. There is no one indicator of the emerging divergences today. Fixing the pair below the Fib level of 127.2% will work in favor of the American currency and resuming the fall in the direction of the correction level of 161.8% – 1.0941.
The Fib net is built on extremums from November 7, 2017 and February 16, 2018.
Recommendations to traders:
Purchases of the EUR / USD pair can be made with the target of 1.1423 and a Stop Loss order below the Fibo level of 100.0%, since the pair completed the closing above the 1.1303 level.
Sales of the EUR / USD pair will be possible with the goal of 1.1303 with a Stop Loss order above the Fibo level of 76.4% if the pair bounces off the 1.1423 level.
The material has been provided by InstaForex Company – www.instaforex.com
4h
The EUR / USD pair reversed in favor of the European currency and closed above the Fib level 100.0% – 1.1303.As a result, on November 29, the growth process can be continued in the direction of the next correctional level of 76.4% – 1.1423.. More so, rebounding the course of the pair from the Fibo level of 76.4% will allow traders to expect a reversal in favor of the US dollar and a return to the correction level of 100.0%. There is no maturing divergence in any indicator. Fixing quotations above the Fibo level of 76.4% will work in favor of continuing growth in the direction of the next correction level of 61.8%.
The Fib net is built on extremes from August 15, 2018 and September 24, 2018.
Daily
On the 24-hour chart, the EUR / USD pair rebounded from the correction level 127.2% – 1.1285 and turned in favor of the EU currency. As a result, the growth process can be continued in the direction of the correctional level 100.0% – 1.1553. There is no one indicator of the emerging divergences today. Fixing the pair below the Fib level of 127.2% will work in favor of the American currency and resuming the fall in the direction of the correction level of 161.8% – 1.0941.
The Fib net is built on extremums from November 7, 2017 and February 16, 2018.
Recommendations to traders:
Purchases of the EUR / USD pair can be made with the target of 1.1423 and a Stop Loss order below the Fibo level of 100.0%, since the pair completed the closing above the 1.1303 level.
Sales of the EUR / USD pair will be possible with the goal of 1.1303 with a Stop Loss order above the Fibo level of 76.4% if the pair bounces off the 1.1423 level.
The material has been provided by InstaForex Company – www.instaforex.com
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