4h
The EUR / USD currency pair fixed under the correction level of 38.2% - 1.1620. As a result, the process of falling quotations can be continued on October 1 in the direction of the next correction level of 50.0% - 1.1558. The Fibonacci grid was rebuilt. Above the level of Fibo 38.2% of quotes could not be closed, which increases the probability of continuing the fall. Fixing the pair under the correction level of 50.0% will work in favor of a further fall in the direction of the Fibo level of 61.8% - 1.1497.
The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.
Daily
On the 24-hour chart, the fall in quotations of the pair continues in the direction of the corrective level 100.0% - 1.1553. Failure of the pair from the Fibo level of 100.0% will allow traders to expect a turn in favor of the Euro and some growth in the direction of the correction level of 76.4% - 1.1789. There is also a bullish divergence in the CCI indicator, which may coincide with the rebound from the Fibo level of 100.0%. Fixing quotes below the Fibo level of 100.0% will increase the probability of a further fall in the direction of the correction level 127.2% - 1.1285.
The Fibo grid is built on extremes from November 7, 2017, and February 16, 2018.
Recommendations to traders:
Purchases of the EUR / USD pair will be possible with the target of 1,1694 with a stop loss order under the Fibo level of 38.2% if the pair completes the closing above the correction level of 1.1620.
Sales of the EUR / USD pair can now be carried out with a target of 1,1558 with a Stop Loss order above the Fibo level of 38.2%, since the pair completed the closing at the level of 1.1620.
The material has been provided by InstaForex Company -
www.instaforex.com