Forecast for EUR/USD on December 26, 2019

EUR/USD

The dollar is in no hurry to breakthrough in the foreign exchange market, probably leaving decisive action in the early days of the new year. Today, the euro enjoys easing and continues to correct. The first barrier to this growth is the MACD line on a four-hour chart at a price level of 1.1120.

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Overcoming this resistance may extend growth to the top of December 19 at the price of 1.1144. The signal line of the Marlin oscillator is in the growth zone, but has penetrated into this zone along a gentle trajectory, which warns of a weak trend.

After the correction is completed, we are waiting for the price to fall to support the embedded line of the price channel on the daily chart, in the area of 1.1056. When the price exits below the MACD line (1.1036), this will signal a medium-term decline in the euro.

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The Marlin oscillator slightly rises after the market, its positive reading is weak, consolidation in the growth zone has not yet occurred.

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