Forecast for EUR/USD on December 26, 2019

EUR/USD

Today, investors are gradually returning to the market. European sites will still be closed today, including Canada, while the working day has arrived in the US. The Ministry of Labor will publish a weekly report on applications for unemployment benefits - a forecast of 222 thousand against 234 thousand last week.

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On the daily chart, the price is held by the Fibonacci level of 123.6%. The signal line of the Marlin oscillator moves directly along the dividing line of two zones of the indicator - the growth and decline zone. Apparently, the price leaves no intention to fulfill the two immediate goals: 1.1057 (blue price channel line) and 1.1032 (MACD indicator line). Overcoming the second support opens the target of 1.0966 - September 23 low.

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On a four-hour chart, the price is consolidating under the indicator lines of balance (red) and MACD. The Marlin oscillator line is testing the boundary with the territory of bulls. We do not expect the release of this line above on the main scenario. Or a short-term exit of the line due to a possible market noise.

The material has been provided by InstaForex Company - www.instaforex.com