26.06.202405:20 Forex Analysis & Reviews: Forecast for EUR/USD on June 26, 2024

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EUR/USD

Time is currently working against the euro. If the single currency does not test the MACD line (1.0755) on the daily timeframe within the next two days, the technical situation will no longer allow for such a scenario.

At the moment, if the price breached yesterday's low at 1.0691, it will move towards the target range of 1.0636/50 and further towards 1.0595. The Marlin oscillator is currently within a narrow sideways range (grey area), maintaining a neutral position and this gives the price a chance to test 1.0755.

On the 4-hour chart, the price has settled below the level of 1.0724 and is entangled around the MACD line. The Marlin oscillator has settled on a downward trajectory. We're waiting for the price to break yesterday's low and further progress on the decline according to the main scenario.

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