Divergence on EUR/USD

Divergence on EUR/USD

The current technical pattern signals a possible correction of the EUR/USD currency pair after a prolonged 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 1.0815 is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above 1.0815, EUR/USD purchases should be considered. The nearest goal for profit-taking is 1.0860-1.0885. The movement is tending to 1.0925-1.0950. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2020.02.20

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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