14.08.202405:01 Forex Analysis & Reviews: Forecast for EUR/USD on August 14, 2024

Relevance up to 22:00 2024-08-14 UTC--4

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The euro's neutral situation gained upward momentum yesterday. On the weekly chart, the Marlin oscillator's signal line emerged from the wedge upwards.

If the price manages to consolidate above the level of 1.1010 on the daily chart, it could potentially open up a medium-term growth prospect. The first target would be 1.1043, followed by 1.1085—the peak from December 28 of last year.

In the daily chart, the divergence has transformed into a regular upward movement of the Marlin oscillator, which is still far from overbought conditions. Forming a double top is only possible if the price falls from 1.1010.

In the 4-hour chart, the euro continues to rise. The price broke away from the balance line upwards, and the Marlin oscillator entered positive territory. We await key developments at the critical level of 1.1010.

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