FX.co ★ Analysis of the divergence of EUR / USD on February 6. Euro falls again to its annual lows.

4h

The currency pair EUR / USD continues to fall in quotations in the direction of the correctional level of 23.6% - 1.1358. The end of the pair's February 6 exchange rate from the Fibo level of 23.6% will allow traders to expect a reversal in favor of the euro currency and some growth in the direction of the next correction level of 38.2% - 1.1446. There is no indicator of the emerging divergences today. Fixing the pair below the Fibo level of 23.6% will increase the probability of a further fall in the direction of the level of 1.1269.

The Fibo grid was built on extremums from September 24, 2018, and November 12, 2018.

Daily

On the 24-hour chart, the pair reversed in favor of the American dollar and began the process of returning to the level of correction 127.2% - 1.1285. Rebounding the pair from this level will allow us to expect a reversal in favor of the European currency and the beginning of new growth in the direction of the correctional level of 100.0% - 1.1553. The closing of quotations below the Fibo level of 127.2% will work in favor of continuing the fall in the direction of the next correction level of 161.8% - 1.0941.

The Fibo grid is built on extremums from November 7, 2017, and February 16, 2018.

Recommendations to traders:

Purchases of the currency pair EUR / USD can be carried out with the target of 1.1446 if the pair rebounds from the correction level of 38.2%, and with a Stop Loss order under 1.1358.

Sales of the currency pair EUR / USD can be continued to carry out now with the goal of 1.1358, as the pair completed closing below the level of 1.1446.