15.04.202406:06 Forex Analysis & Reviews: Forecast for EUR/USD on April 15, 2024

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EUR/USD

On Friday, the euro fell by over 80 pips and stopped in the target range of 1.0635/56 (the May 2023 low). The price may take a break in this area, as the signal line of the Marlin oscillator on the daily chart has left its own descending channel and may want to return to it.

However, since there are no technical signs of a reversal, the correction will not last long. After the price falls below the lower boundary of the range at 1.0636, the next target will be 1.0567.

On the 4-hour chart, there are also no signs of a reversal, indicating a shallow correction. If the price consolidates below the level of 1.0636, it can move towards 1.0567. US retail sales are expected to increase by 0.4% in March. This report may affect the pair's movement.

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