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04.03.201912:04 Forex Analysis & Reviews: Analysis of the divergence of EUR / USD for March 4. The pair is prone to falling, but down does not allow the level of 1.1358

Long-term review
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4h

Exchange Rates 04.03.2019 analysis

On the 4-hour chart, the EUR / USD pair performed a new return to the correctional level of 23.6% - 1.1358. On March 4, the end of quotes from this level will allow to count on a turn in favor of the EU currency and the resumption of growth in the direction of the 38.2% correction level - 1.1446. There is not a single indicator on the current chart that has diverging effects today. Moreover, closing quotes below the Fibo level of 23.6% will increase the pair's chances of continuing falling towards 1.1269.

The Fibo grid was built on extremums from September 24, 2018 and November 12, 2018.

Daily

Exchange Rates 04.03.2019 analysis

On the 24-hour chart, the quotes of the pair reversed in favor of the US dollar and began a slow decline in the direction of the correction level 127.2% - 1.1285 after the formation of a bearish divergence. Closing the course of the pair below this level will allow traders to expect a continuation of the fall in the direction of the next Fibo level 161.8% - 1.0941. On the other hand, rebounding the pair from the level of 127.2% will work in favor of the euro currency and the resumption of growth in the direction of the correction level 100.0% - 1.1553.

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

Recommendations to traders:

Purchases of the EUR / USD pair can be carried out with the target of 1.1446, if the pair disconnects from the level of 1.1358, and the Stop Loss order is below the 23.6% level. But be careful, since there is a bearish divergence on the 24-hour chart.

Sales of the EUR / USD pair can be made with the target of 1.1269, and with a Stop Loss order above the level of 1.1358, if the pair closes below the Fibo level of 23.6%.

Samir Klishi
Analytical expert of InstaForex
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