Dmitriy Gurkovskiy | Sep 29, 2020 12:52
EUR/USD
As we can see in the H4 chart, the divergence on MACD made the pair start a new descending correction, which, after breaking 23.6% fibo, has yet failed to reach 38.2% fibo at 1.1520. At the same time, there is a local convergence on MACD, which may hint at a short-term pullback. After completing the pullback, the pair may head 38.2%, 50.0%, and 61.8% fibo at 1.1520, 1.1369, and 1.1217 respectively. However, if EURUSD breaks the high at 1.2011, it may continue trading upwards to reach the long-term 76.0% fibo at 1.2095.
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