14.05.201906:34 Forex Analysis & Reviews: Forecast for EUR/USD for May 14, 2019

EUR/USD

For the third day now, the euro has been trapped between the indicator balance and MACD lines on a daily scale chart. Every time the price went beyond the resistance of the balance line, but fell back. On the H4 graph, the marlin oscillator used up the heat and has already dealt with the border of the decline territory. On the daily chart, the marlin is still in a growing position, it is also close to the neutral border.

Today, data on industrial production in the eurozone for March are released, the forecast is -0.3% after the previous decline of -0.2%. Perhaps the euro will change the mood today and start attacking the support, the first of which will be the MACD line on the daily chart at a price of 1.1210. The success of this operation can inspire players to take 1.1185 - supporting the MACD line on the four-hour scale. The subsequent target of 1.1155 is the Fibonacci level of 110.0%, displayed on a daily scale chart.

The release of strong data on European industrial production can still lead the euro to the price channel line in the area of 1.1276, although there is little chance of that.