17.07.202004:51 Forex Analysis & Reviews: Forecast for EUR/USD on July 17, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

The euro has strengthened its reversal signs over the past day. Having decreased by 30 points, the price points indicate the upcoming divergence with the Marlin oscillator with great emphasis. The signal line of the oscillator is about to move into the zone of negative values. The declining mood will become clear after the price moves below the signal level of 1.1349 - the June 23 high. In this case, the euro's nearest target is 1.1265, then 1.195, which is approaching the MACD line.

On the working scale of H4, the signal line of the Marlin oscillator went down from its own rectangular range, entering the downward trend zone. The MACD line approached the signal level of 1.1349, which strengthened the significance of this level - the stronger it is, the more important it is for the price to overcome it.

However, a reversal might not form. If the price goes above the level of 1.1420, the 1.1465 target will open again. Overcoming 1.1465 paves the way to 1.1560, towards forming a less steep divergence on the daily scale.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.