12.04.202205:45 Forex Analysis & Reviews: Forecast for EUR/USD on April 12, 2022

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.

The euro did not reach the target level of 1.0945 on Monday, to which it was reaching during the correction, and turned down. Now the price has an intention to go under the support of 1.0820 in order to be able to develop a full-fledged attack on the target range of 1.0636/70. However, there is one small detail that gives a chance for the price to continue sideways movement in the range of 1.0820-1.0945 for a few more days – the almost horizontal movement of the Marlin Oscillator.

On the four-hour chart, yesterday's growth did not go above the balance indicator line, which was a classic correction. The Marlin Oscillator has been growing ahead of the price all this time, it went into the positive area due to the convergence formed the day before, and now it is ready to return to the downtrend zone and drop deeper than the previous low, into the oversold zone.

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.