13.08.202405:25 Forex Analysis & Reviews: Forecast for EUR/USD on August 13, 2024

Relevance up to 22:00 2024-08-13 UTC--4

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The euro's consolidation above 1.0905 continues. Yesterday's session closed with a white candlestick, so formally, the probability of the price moving above 1.1010 has slightly increased. However, the price has yet to climb above 1.0964, and the Marlin oscillator continues to apply downward pressure through technical divergence.

On the 4-hour chart, the price is moving along the balance line, highlighting the situation's neutrality. The Marlin oscillator has approached the zero line.

A drop in price below the 1.0905 support would be significant, indicating a potential development of a bearish, likely medium-term movement. A shift in the quote below the MACD line, beneath the 1.0888 mark, would confirm this.

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