Divergence on EUR/USD

Divergence on EUR/USD

The current technical pattern signals a possible correction of the EUR/USD currency pair after a prolonged fall. In a trading instrument, a classic reversal formation has been observed for quite a long time – the price and MACD histogram divergence (D1 timeframe). At the moment, the EUR/USD quotes are consolidating near the round level of 1.14000. We recommend paying attention to this situation.

If the price fixes above the level of 1.14000, correction of the single currency is expected. The target level of movement is .15000-1.15250. In the medium term, the EUR/USD quotes may reach the round level of 1.17000. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking a position, we recommend using a trailing stop.

by JustForex 2018.11.30

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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