FX.co ★ Analysis of EUR/USD divergence for March 28: euro set to fall to 1.1200

4h

As seen on the 24-hour chart, the pair settled below the retracement level of 127.2% (1.1285). As a result, the fall may continue in the direction of the next Fibo level of 161.8% (1.0941). However, the pair has been trading along the retracement level of 127.2% for a long period of time. Therefore, it is possible to expect a fall to the retracement level of 161.8%, but the probability of this is low.

The Fibo grid is built on the basis of extremums from November 7, 2017 and February 16, 2018.

Trading recommendations

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 below the retracement level of 23.6%.

Sell deals on EUR/USD pair can be opened with the target at 1.1177, as the pair closed below the retracement level of 1.1269. The stop-loss order should be set above the Fibo level of 23.6%.