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15.03.201910:48 Forex Analysis & Reviews: Analysis of EUR / USD divergence for March 15. Chart signals further growth

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 15.03.2019 analysis

On the 24-hour chart, the pair consolidated above the correction level of 127.2% - 1.1285. Thus, the pair will continue its growth in the direction of the next Fibo level of 100.0% - 1.1553. Closing below the level of 127.2% could be viewed as a trend reversal in favor of the US dollar. Besides, the pair could decline in the direction of the correction level of 161.8% - 1.0941. None of indicators shows emerging divergences today.

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

Trading recommendations:

Now traders can open long positions on EUR / USD with a target of 1.1351 as the pair closed above the level of 1.1299. Stop loss could be placed under the correction level of 76.4%.

Besides, tarders can consider short deals on EUR / USD with a target of 1.1216 provided that the pair closes below 1.1299. Stop loss order could be set above the Fibo level of 76.4%.

Samir Klishi
Analytical expert of InstaForex
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