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31.01.201909:07 Forex Analysis & Reviews: Analysis of EUR / USD Divergences for January 31. Fed helped Euro currency

Long-term review

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The currency pair EUR / USD reversed in favor of the EU currency and resumed the growth process towards a correctional level of 50.0% - 1.1517. 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 towards the level of 38.2% - 1.1446. Fixing the pair above the Fibo level of 50.0% will increase the chances of continued growth in the direction of the next correction level of 61.8% - 1.1587.

The Fibo grid is built on extremes from September 24, 2018, and November 12, 2018.

Daily

On the 24-hour chart, the currency pair continues to grow in the direction of the Fibo correction level of 100.0% - 1.1553. The end of the pair on January 31 of the level of 100.0% will allow traders to expect a reversal in favor of the US dollar and a slight decline towards the correction level of 127.2% - 1.1285. There is no indicator of the emerging divergences today. Closing the pair above the Fibo level of 100.0% will increase the likelihood of further growth.

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

Recommendations to traders:

New purchases of the currency pair EUR / USD will be possible with the goal of 1.1587 if the pair closes above 50.0%, and a Stop Loss order under 1.1517.

Sales of the currency pair EUR / USD can be carried out with the target of 1.1446 with a Stop Loss order above the Fibo level of 50.0% if the pair bounces off the level of 1.1517.

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