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20.03.201910:34 Forex Analysis & Reviews: Analysis of EUR / USD divergence for March 20: the calm before the new fall?

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 20.03.2019 analysis

On the 4-hour chart, the EUR/USD pair completed closing above the retracement level of 38.2% (1.1328). As a result, on March 20, the pair is expected to continue to grow in the direction of the next retracement level of 50.0% (1.1374). Quoting quotes from the 50.0% level will allow traders to count on a reversal in favor of the US currency and a return to the Fibo level of 38.2%. Fixing the pair over the retracement level of 50.0% will increase the chances for further growth in the direction of the Fibo level of 61.8% (1.1420).

The Fibo grid is based on extremums of January 10, 2019, and March 7, 2019.

Daily

Exchange Rates 20.03.2019 analysis

As seen on the 24-hour chart, after fixing the quotations above the Fibo level of 127.2% (1.1285), the pair continues the sluggish growth process in the direction of the retracement level of 100.0% (1.1553). Today, there are no emerging divergences observed on the current chart. Closing the pair below the Fibo level of 127.2% will work in favor of the American currency and resuming the fall in the direction of the retracement level of 161.8% (1.0941).

The Fibo grid is based on extremums of November 7, 2017, and February 16, 2018.

Trading recommendations:

Buy deals on EUR / USD pair can be opened with the target at 1.1374, as the pair completed closing above the level of 1.1328. The stop-loss order should be placed under the retracement level of 38.2%.

Sell deals on EUR / USD pair can be carried out with the target at 1.1269 if the pair completes consolidation below the level of 1.1328. The stop-loss order should be placed above the Fibo level of 38.2%.

Samir Klishi
Analytical expert of InstaForex
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