Daily

The rate has consolidated under the level of correction 23.6% - 82.25 of Fibonacci. However, it looks like the descending movement has finished. The drop may continue towards the next level of correction 38.2% - 81.08 if the pair does not consolidate above the level of correction 23.6%. Reverse of the rate above the correctional level of 23.6% of Fibonacci enables swings towards the U.S. dollar and rate’s growth towards the level of 0.0% - 84.16 of Fibonacci. No new divergence is observed. All the indicators except for Stochastic allow us to consider the continuation of rate’s growth. In its term, Stochastic enables and makes a very possible drop of the pair, especially if the pair closes under the level of correction 23.6%.

4h

On the 4H chart the quotes has consolidated above the correctional level 261.8% - 82.10 of Fibonacci. Rather insignificant movements near the level of correction 261.8% show that the market is flat. Consolidation of the rate under the level of Fibonacci 261.8% enables the rate’s drop towards the level of correction 200.0% - 81.00. No new divergence is observed. The consolidation of the quotes above the level of correction 261.8% of Fibonacci enables again the rate’s growth towards the next level 323.6% - 83.18 of Fibonacci. All the indicators allow both swing to the U.S. dollar and continuation of flat fall of the pair in the direction of the level of correction 200.0%.