Analysis of the divergence of EUR / USD on October 11. The growth of the euro continues but may be limited to the level of

Trading 11 oct 2018 Donner votre avis

4h

analytics5bbeef71916a4.png

After the formation of a bullish divergence at the CCI indicator, the EUR / USD currency pair has completed growth to the correctional level of 50.0% - 1.1558. Rebounding quotes from the Fibo level of 50.0% will allow traders to count on a reversal in favor of the American currency and a slight drop in the direction of the 61.8% correction level of 1.1497. The ripening divergences on October 11th are not observed in any indicator. Fixing the pair above the Fibo level of 50.0% will increase the chances for further growth in the direction of the next correction level of 38.2% - 1.1620.

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

Daily

analytics5bbeef7aadc7a.png

On the 24-hour chart, the pair quotes returned to the correction level of 100.0% - 1.1553. Rebounding the pair from this level will allow us to expect a reversal in favor of the US dollar and a resumption of decline in the direction of the correctional level of 127.2% - 1.1285. Fixing quotes above Fibo 100.0% will work in favor of continuing growth in the direction of the next correction level of 76.4% - 1.1789. There are still no divergences.

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

Recommendations to traders:

New purchases of the EUR / USD currency pair will be possible with the goal of 1.1620 with a Stop Loss order below the Fibo level of 50.0% if the pair closes above the 1.1558 correction level.

Sales of the EUR / USD currency pair can be carried out with the target of 1.1497 with a Stop Loss order above the Fibo level of 50.0% if the pair bounces off the 1.1558 level.

The material has been provided by InstaForex Company - www.instaforex.com

Fatal error: Uncaught Exception: 12: REST API is deprecated for versions v2.1 and higher (12) thrown in /var/www/forex-winner.com/htdocs/wp-content/plugins/seo-facebook-comments/facebook/base_facebook.php on line 1039