4h

The EUR / USD pair on the 4-hour chart consolidated above the correction level of 23.6% - 1.1358, however, the growth of quotations has so far stalled. This consolidation allows traders to expect on February 28 the resumption of growth in the direction of the Fibo level of 38.2% - 1.1446, especially if the pair rebounds from the correction level of 23.6%. The closing of quotations of the pair below the Fibo level of 23.6% will work in favor of the US dollar and continuing to fall in the direction of the level of 1.1269.

The Fibo grid is built on extremes from September 24, 2018, and November 12, 2018.

Daily

On the 24-hour chart, the pair continues the process of weak growth in the direction of the Fibo level of 100.0% - 1.1553. However, the bearish divergence at the CCI indicator allows us to expect a reversal in favor of the American currency and the pair to return to the correction level of 127.2% - 1.1285. Fixing quotes under this level will increase the chances of continuing to fall in the direction of the next Fibo level of 161.8% - 1.0941. Passing the last peak of the divergence will allow you to count on the resumption of growth.

The Fib net is built on extremums from November 7, 2017, and February 16, 2018.

Recommendations to traders:

Purchases of the EUR / USD pair can be carried out with the target of 1.1446 if the pair disconnects from the level of 1.1358, and the Stop Loss order is below the level of 23.6%, but be careful, as there is a bearish divergence on the 24-hour chart.

Sales of the EUR / USD pair can be made with the target of 1.1269, and with a Stop Loss order above the level of 1.1358, if the pair closes below the Fibo level of 23.6%.