Divergence on EUR/USD

Divergence on EUR/USD

A classic reversal formation of technical analysis was formed on the EUR/USD currency pair - the price and MACD histogram divergence (H4 timeframe). At the moment the price is being traded near the local support of 1.11700. We advise you to pay attention to this situation.

If the EUR/USD quotes fix below the level of 1.11700, you need to look for entry points to the market in order to open short positions. The immediate goal for profit taking is the round level of 1.11000. In the medium term, the currency may reach the level of 1.10200.

by JustForex, 2017.06.09

View trading ideas by the Price Action method.

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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