09.08.201905:44 Forex Analysis & Reviews: Forecast for EUR/USD on August 9, 2019

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EUR/USD

The euro lost 19 points yesterday, having previously touched the resistance of the Kruzenshtern line on the daily chart for the third time. The signal line of the Marlin oscillator pressed against the boundary that divides the growth zone from the declining trend zone. The price is currently "magnetized" to the line of the downward price channel. Leaving the price under the line will make it possible to work out the nearest target of 1.1155 - the Fibonacci level of 110.0%, consolidating below the level opens the second target 1.1074 - the Fibonacci level of 123.6%.

On the four-hour chart, the price is held above the indicator lines of the balance sheet and MACD, but the Marlin has already moved towards a potential decline in the trend. The initial target of 1.1155 on H4 corresponds to the support of the MACD line - the blue indicator line of the trend. Support, therefore, takes on strategic importance, and the market is in no hurry to decide whether to attack it or not.

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