4h

As seen on a 4-hour chart, the EUR/USD pair made a return to the retracement level of 50.0% (1.1313) and a turn in favor of the American currency. As a result, on April 16, the quotations began to fall again in the direction of the retracement level of 61.8% (1.1281). There are no emerging divergences in any indicator on April 16. Fixing the pair above the Fibo level of 50.0% with a break of the last peak of the bearish divergence can be interpreted as a reversal in favor of the US dollar and we can expect some growth in the direction of the retracement level of 38.2% (1.134)4.

The Fibo grid was built on extremums from March 7, 2019, and March 20, 2019.

Daily

As seen on the 24-hour chart, the pair closed above the retracement level of 127.2% (1.1285). However, the emerging bearish divergence allows traders to expect a reversal in favor of the US currency and a resumption of decline in the direction of the Fibo level of 161.8% (1.0941) with at least a stop near the previous two lows. Two unsuccessful attempts to close above the Fibo level of 50.0% on the 4-hour chart increase the chances of a fall beginning.

The Fibo grid was built on extremes from November 7, 2017, and February 16, 2018.

Trading advice:

Buy deals on EUR/USD pair with a target at 1.1344 if the pair consolidates above the Fibo level of 50.0% (and updates the last peak of the divergence). The stop loss order should be placed below the level of 1.1313.

Sell deals on EUR/USD pair can be opened with targets at 1.1281 and 1.1241 as the pair completed consolidation below the level of 50.0%. The stop loss order should be placed above the level of 1.1313.