Analysis of the divergence of EUR / USD on March 6. The pair is moving to the lows again

4h

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The EUR / USD pair on the 4-hour chart fixed below the correctional level of 23.6% - 1.1358 and continues the process of falling in the direction of the level of 1.1269. There are no emerging divergences today. The rebound of the pair from the level of 1.1269 will work in favor of the EU currency and some growth in the direction of the correction level of 23.6%. Closing the pair below the 1.1269 level will increase the likelihood of a further fall in the direction of the next correction level of 0.0% - 1.1218.

The Fibo grid was built on extremums from September 24, 2018, and November 12, 2018.

Daily

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On the 24-hour chart, the pair returned to the Fibo level of 127.2% - 1.1285. Rejection of quotes from this level of correction will allow traders to count on a reversal in favor of the European currency and some growth in the direction of the Fibo level of 100.0% - 1.1553. Fixing quotes under the correction level of 127.2% will increase the chances of the pair to further 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:

Purchases of the EUR / USD pair can be carried out with the target of 1.1358 if the pair disconnects from the level of 1.1269, and the Stop Loss order is below this level.

Sales of the EUR / USD pair can be carried out now with a target of 1.1269, and with a Stop Loss order above the level of 1.1358, since the pair completed closing below the Fibo level of 23.6%.

The material has been provided by InstaForex Company - www.instaforex.com

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