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. A classic reversal formation, the divergence of price and MACD histogram (H1 timeframe), has been formed in the trading instrument. At the moment, EUR/USD quotes are stable. The level of 1.1025 is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above the level of 1.1025, EUR/USD purchases should be considered. The immediate goal for profit taking is 1.1060. The movement is tending to 1.1080-1.1100. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2020.01.30

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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