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22.02.201909:17 Forex Analysis & Reviews: Analysis of EUR / USD divergences for February 22. The pair may return to 1.1360 for the fourth time

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.

4h

Exchange Rates 22.02.2019 analysis

The EUR / USD pair returned again to the correction level of 23.6% at 1.1358 and rebounded from it. As a result, the pair also performed a slight drop but the new bullish divergence at the CCI indicator allows us to expect a turn in favor of the EU currency and another return to the Fibo level of 23.6%. A new rebound from this level will again work in favor of the American currency and some fall in the direction of the level of 1.1269. Fixing the rate of the pair above the Fibo level of 23.6% will increase the likelihood of continued growth in the direction of the correction level of 38.2% at 1.1446.

The Fibo net was established on boundaries from September 24, 2018 and November 12, 2018.

Daily

Exchange Rates 22.02.2019 analysis

On the 24-hour chart, the pair rebounded from the correction level of 127.2% at 1.1285 and started the growth process in the direction of the Fibo level 100.0% at 1.1553. Maturing divergences in the current chart are not observed in any indicator. The closing of quotations of the pair below the Fibo level of 127.2% can be interpreted as a reversal in favor of the American dollar and it is expected to resume a decline towards the correction level of 161.8% at 1.0941.

The Fibo net was established on boundaries from November 7, 2017 and February 16, 2018.

Recommendations to traders:

New purchases of the EUR / USD pair is possible with the goal of 1.1446 and a Stop Loss order below the level of 23.6% if the pair closes above the level of 1.1358.

Sales of the EUR/USD pair can be carried out with the target of 1.1269 and a Stop Loss order above the level of 1.1358 if the pair completes the last low divergence.

Samir Klishi
Analytical expert of InstaForex
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