Divergence on EUR/USD

Divergence on EUR/USD

On the EUR/USD currency pair, the bullish sentiment has been prevailing for quite some time. Nevertheless, a technical correction is not excluded in the near future. A fairly strong reversal formation, the price and MACD histogram, divergence, was formed in the trading instrument (M30 timeframe). The closest support is the mark of 1.19900.

If the price fixes below 1.19900, we recommend considering sales of EUR/USD. The immediate goal for profit-taking is the "mirror" support of 1.19500. In the medium term, the EUR/USD currency pair may reach a round level of 1.19000. When following a position, one should use a trailing stop.

by JustForex, 2017.09.11

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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.