21.06.201906:27 Forex Analysis & Reviews: Forecast for EUR/USD on June 21, 2019

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EUR/USD

On the second day following the "dovish" Federal Reserve meeting, that is, yesterday, the markets began to play more actively against the dollar; oil has risen in price by 5.14%, gold by 2.06%, and today in the Asian session it adds the same amount. Despite the Fed's clear instructions to lower the rate once before the end of the year, the markets raised their expectations of two cuts, moreover, in July with a 100% probability. It just so happened that it was worth it for the Fed to declare a possible rate cut, as it collapsed with attacks from all sides. This was impossible before Powell. But besides the FOMC, the Fed still has shareholders. We believe that now is the time for them to intervene.

In the current situation, the euro is consolidating in the range of Fibonacci levels of 61.8% -76.4% on the four-hour chart. The indications of the leading Marlin indicator on both graphs - daily and H4, rising, the price has all the conditions for continued growth. The first goal is the range of 1.1348/56, formed by Fibonacci levels on charts of different scales: 100.0% on H4 and 76.4% on a daily basis.

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