15.04.201906:40 Forex Analysis & Reviews: Forecast for EUR/USD on April 15, 2019

Long-term review

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EUR/USD

Today in the Asian session, the euro is making a second attempt to storm the embedded line of the price channel on the daily chart. The opening of the session took place on this line and above the red indicator line of the balance. The marlin oscillator took a more definite upward direction. Probably, the price went to the Fibonacci level of 76.4% at a price of 1.1357.

The current technical picture has one point, showing the growth's weakness - price divergence with a marlin oscillator on the H4 chart. This moment is weak, since the divergence can be easily rearranged into a further trend growth of the indicator.

Regarding the restoration of the intention of the price to once again aim for 1.1155, it is possible once it has left the area below the MACD line on both charts, this is the range of 1.1248/60.

The US data on industrial production in March will be released tomorrow. Industrial production growth is expected at 0.2%, the capacity utilization rate may show growth from 78.2% to 79.2%. The balance of payments for February will be released in the eurozone on Wednesday, with a forecast of 33.2 billion euros against 36.8 billion a month earlier. We are waiting for a quick reversal of the euro.

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