Forecast for EUR/USD on July 9, 2019

EUR/USD

On Monday, the euro fell by 11 points, but did an important thing from a technical standpoint - it was fixed under the indicator lines of balance and MACD on the daily chart and below the trend line of the price channel. Now the path to the target level of 1.1155, defined as a market reaction by Fibonacci 110.0%. Marlin oscillator points to a strong bearish potential.

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On the four-hour chart, the signal line of the Marlin oscillator did not try to jump into the growth zone, remaining in the territory of negative numbers. The price is steadily developing below the balance and MACD lines.

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Fed Chairman Jerome Powell is speaking tonight on stress test, and probably won't touch monetary policy, as he will speak in the House of Representatives tomorrow. But today there are still scheduled speeches by Bullard, Quarls and Bostic, perhaps one of them will comment on the strong Friday employment data.

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