As seen on the 4-hour chart, the EUR/USD pair attempted to consolidate above the retracement level of 23.6% (1.1269), but it ended in failure. Thus, the process of falling quotations can be continued on March 28 in the direction of the next retracement level of 0.0% (1.1177). Today, emerging divergences are not observed in any indicator. The closing of the pair above the Fibo level of 23.6% can be interpreted as a reversal in favor of the euro currency and expect some growth in the direction of the retracement level of 38.2% (1.1328).
The Fibo grid is built on the grounds of extremums from January 10, 2019, and March 7, 2019.
As seen on the 24-hour chart, the quotes of the pair completed the close under the retracement level of 127.2% (1.1285). As a result, the fall in quotations may continue in the direction of the next Fibo level of 161.8% (1.0941). However, for a long period of time, the pair continues to trade along the retracement level of 127.2%. Therefore, it is possible to expect a fall to the retracement level of 161.8%, but the probability of this is small.
The Fibo grid is built on the grounds of extremums from November 7, 2017, and February 16, 2018.
Buy deals on EUR/USD pair can be opened with the target at 1.1328 if the pair closes above the level of 1.1269. The stop-loss order should be placed under the retracement level of 23.6%.
Sell deals on EUR/USD pair can be opened with the target at 1.1177, as the pair completed closing below the retracement level of 1.1269. The stop-loss order should be placed above the Fibo level of 23.6%.The material has been provided by InstaForex Company - www.instaforex.com