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 rally. In a trading instrument, a classic reversal formation has been formed – the price and MACD histogram divergence (M15 timeframe). At the moment, the EUR/USD currency pair is consolidating. Local support is the level of 1.13750. We recommend paying attention to this situation.

If the price fixes below 1.13750, you should look for entry points to the market to open short positions. The immediate goal for profit taking is the 1.13350-1.13150 zone. The movement is tending to 1.12850-1.12700. When tracking a position, we recommend using a trailing stop.

by JustForex 2019.06.25

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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