21.02.201908:52 Forex Analysis & Reviews: Forecast for EUR / USD pair on February 21, 2019

Long-term review

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 pair

On Wednesday, the price exactly worked out the resistance of the MACD trend indicator line on a daily scale and broke the levels on the price channel line as expected. However, the price could not go higher and divergence with the Marlin oscillator began to form on the four-hour timeframe, but for the time being, it is very short. In the case of resumption of growth, divergence can be transformed, and become more pronounced. Thus, the target remains to be 1.1407.

However, the likelihood of a downward reversal from current levels has increased. The first sign of the strengthening of such a scenario will be the departure of the price below the MACD line at 1.1315 on the four-hour chart. Fixing under the signal level of 1.1290 will push the scenario to be executed and then the target will be 1.1215, which was the minimum on November 13 last year.

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.