Divergence on EUR/USD

Divergence on EUR/USD

The current technical pattern signals a possible correction of the EUR/USD currency pair after a continuous fall. In a trading instrument, a classic reversal formation has been formed – the price and MACD histogram divergence (H1 timeframe). At the moment, the EUR/USD currency pair is consolidating. A trading instrument is testing a local resistance of 1.12500. We recommend paying attention to this situation.

If the price fixes above the level of 1.12500, you need to look for entry points to the market to open long positions. The immediate goal for profit taking is the resistance level of 1.12850. The movement is tending to 1.13250-1.13500. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.04.03

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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