Divergence on EUR/USD

Divergence on EUR/USD

The current technical pattern on EUR/USD indicates the development of the bullish sentiment. A sufficiently strong reversal formation, the price and MACD histogram, divergence, appeared on the trading instrument (H4 timeframe). At the moment, the price is testing the local resistance level of 1.17500.

If the price fixes above the 1.17500 mark, we recommend you to look for entry points to the market to open long positions. The closest target for profit taking is the local offer zone of 1.18000-1.18250. In the medium term, the EUR/USD currency pair may reach a "mirror" resistance level of 1.18750. When following a position, one should use a trailing stop.

by JustForex, 2017.10.09

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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.