Analysis of EUR/USD divergence for March 19: pair is ready to continue growth

4h

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As seen on the 24-hour chart, the pair consolidated above the retracement level of 127.2% (1.1285). Thus, the growth is expected to continue towards the retracement level of 100.0% (1.1553). Today, no indicators signal emerging divergence on any charts. If the pair closes below the level of 127.2%, it can be a sign of an upward USD reversal and resumption of a fall towards the retracement level of 161.8% (1.0941).

The Fibo grid is based on extremes of November 7, 2017 and February 16, 2018.

Trading recommendations:

Buy deals on the EUR/USD pair can be opened with the target at 1.1374, as the pair closed above the level of 1.1328. The stop loss order should be placed under the retracement level of 38.2%.

Sell deals on the EUR/USD pair can be carried out with the target at 1.1269 if the pair holds below the level of 1.1328. The stop loss order should be placed above the Fibo level of 38.2%.

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

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