Analysis of the divergence of EUR / USD on February 26. Level 1.1358 - still an insurmountable obstacle to the euro
The EUR / USD pair on the 4-hour chart completed the next return to the correction level of 23.6% - 1.1358. A new release of quotes from this level will again allow traders to expect a reversal in favor of the American currency and a slight drop in the direction of the level of 1.1269. Closing quotes of the pair on February 26 above the Fibo level of 23.6% will increase the chances for further growth in the direction of the next correction level of 38.2% - 1.1446.
The Fibo grid was built on extremums from September 24, 2018, and November 12, 2018.
On the 24-hour chart, the pair continues the process of weak growth in the direction of the correctional level of 100.0% - 1.1553 after rebounding from the Fibo level of 127.2% - 1.1285. Maturing divergences are not observed today on both graphs. Fixing the pair under the correction level of 127.2% will work in favor of the US dollar and resuming the fall in quotations in the direction of the Fibo level of 161.8% - 1.0941.
The Fibo grid is built on extremums from November 7, 2017, and February 16, 2018.
Recommendations to traders:
New purchases of the EUR / USD pair will be possible with the goal of 1.1446 if the pair closes above the level of 1.1358 and a Stop Loss order below the level of 23.6%.
Sales of the EUR / USD pair will be possible with the target of 1.1269, and with a Stop Loss order above the level of 1.1358, if the pair performs a new rebound from the level of 23.6%.The material has been provided by InstaForex Company - www.instaforex.com