Forecast for EUR/USD on January 14, 2020


On Monday, the euro grew by 29 points at the moment as part of the expected correction. The price received resistance from the MACD line on a four-hour chart. The line also coincides with the correctional level of 38.3%. Here, the correction can be considered completed.


If the euro reverses down from current levels, the Marlin oscillator signal line on the daily chart will reverse from the boundary with the territory of an upward trend, at the moment the value of the line is 0.0008, but this penetration is not deep, a price reversal is possible. Overcoming yesterday's high may extend the growth to the Fibonacci level of 110.0% on the daily chart (1.1155).


We are waiting for the euro to decline to support the MACD line and the Fibonacci level of 123.6% on the daily chart at a price of 1.1073. Overcoming the level opens the second target along the line of the price channel 1.1036.

The material has been provided by InstaForex Company -