FX.co ★ Analysis of EUR / USD Divergences on September 13. Bearish divergence is worked out.

4h

The currency pair EUR / USD on the 4-hour chart executed a turn in favor of the euro and consolidation above the correction level of 61.8% - 1.1605. As a result, on September 13, the growth process can be continued in the direction of the next Fibo level of 76.4% - 1.1675. Today, there is no visible divergence in any indicator. Quit of quotations from the correction level of 76.4% will allow traders to expect a turn in favor of the US currency and a return to the correctional level of 61.8%.

The Fibo grid is built on extremes from July 9, 2018, and August 15, 2018.

Daily

On the 24-hour chart, the currency pair retreated from the Fibo level of 100.0% to 1.1553 and continues the growth process towards the correctional level of 76.4% to 1.1789. Brewing divergences are not observed in any indicator. The consolidation of the pair's rate under the correction level of 100.0% can be interpreted as a reversal in favor of the US currency and expect to resume falling towards the Fibo level of 127.2% to 1.1285.

The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.

Recommendations for traders:

Purchases of the EUR / USD pair can now be carried out with a target of 1.1675 with a stop loss order under the Fibo level of 61.8%, since the pair completed the closing above the correction level of 1.1605.

Sales of the EUR / USD pair can now be carried out with the aim of 1.1605 with a Stop Loss order above the Fibo level of 76.4% if the pair retires from the level of 1.1675.