17.06.202407:36 Forex Analysis & Reviews: Forecast of EUR/USD pair on June 17, 2024

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EUR/USD:

The price has consolidated below the MACD indicator line (blue) and the balance indicator line (red) on the weekly chart. The Marlin oscillator has entered the territory of a downtrend.

A fully downward trend of medium- and long-term nature has formed. The nearest target is the low of May last year at 1.0636, followed by the magnetic point we mentioned in previous reviews at 1.0369. The third target is 0.9955, the low of July 2022.

The price has consolidated below both indicator lines on the daily chart, with Marlin developing in the downward territory. The target of 1.0636 may be reached the day after tomorrow, after which a slight correction is likely.

On the H4 chart, a convergence has formed between the price and the oscillator. This may indicate a price delay today. The limit of the corrective growth is at the level of 1.0724.

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