FX.co ★ Analysis of the divergence of EUR / USD on December 6. The euro fell to a level of 1.13 again

4h

The currency pair EUR / USD, after rebounding from the correction level of 76.4% - 1.1423, continues the process of falling in the direction of the correctional level of 100.0% - 1.1303. The end of the quotations of the pair on December 6 from the Fibo level of 100.0% will allow traders to expect a reversal in favor of the euro and some growth in the direction of the correction level of 76.4%. There are no ripening divergences today. Closing the pair below the Fibo level of 100.0% will increase the chances of a further fall in the direction of the next correction level of 127.2% - 1.1162.

The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.

Daily

On the 24-hour chart, the EUR / USD currency pair rebounded from the correction level of 127.2% - 1.1285, which allows traders to expect some growth in the direction of the Fibo level of 100.0% - 1.1553. Maturing divergences are not observed on the current chart. Fixing the pair under the correction level of 127.2% will work in favor of the US dollar and continuing to 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:

You can make purchases of the EUR / USD currency pair with a target of 1.1423 and a Stop Loss order under the Fibo level of 100.0% if the pair bounces off the level of 1.1303.

New sales of the EUR / USD currency pair will be possible with the goal of 1.1162 with a Stop Loss order above the Fibo level of 100.0%, if the pair closes below the correction level of 1.1303.