FX.co ★ Analysis of EUR / USD Divergences for September 20. The third day is trading near 1.1675

4h

The EUR / USD currency pair on the 4-hour chart made a return to the correction level of 76.4% - 1.1675. In recent days, the pair is trading near this level of Fibo and is not moving away from it. The rebound of quotations from the correction level of 76.4% will again allow traders to calculate for a turn in favor of the euro and some growth in the direction of the corrective level of 100.0% - 1.1791. Fixing the pair below the Fibo level of 76.4% will work in favor of continuing the decline in the direction of the correction level of 61.8% - 1.1605.

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

Daily

On the 24-hour chart, after the rebound from the Fibo level of 100.0% - 1.1553, the growth of quotations can be continued in the direction of the correction level of 76.4% - 1.1789. Seizing divergences on September 20 is not observed. The pair's retracement from the Fibo level of 76.4% will work in favor of the US dollar and a certain drop in quotations towards the correction level of 100.0%. Fixing a pair under the Fibo level of 100.0% will increase the chances of a further fall.

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

Recommendations for traders:

Purchases of the EUR / USD currency pair can be carried out with the targets of 1.1715 and 1.1791 with the stop loss order under the Fibo level of 76.4% if the pair retires from the correction level of 1.1675.

Sales of the EUR / USD currency pair will be possible for 1.1605 with a Stop Loss order above the Fibo level of 76.4% if the pair completes closing under the level of 1.1675.