Forecast for EUR/USD on April 10, 2020


On Thursday, the euro continued its correction, rising to the lower boundary of the target range 1.0955 / 80. The price approached the price channel line on the daily scale chart, which completed one of the options for this correction. Its continuation can be restricted by the MACD line (indicator blue) at the level of 1.0980, to which it approaches. In this case, Marlin oscillator's signal line will test the boundary with the growth temporary and, in the case of a possible price reversal, will turn around with it from this indicator resistance.


The price is located above the balance and MACD indicator lines on the four-hour chart, while the Marlin oscillator is in the growing trend zone.


Technical growth will be replaced by a decline with the price moving under the MACD line (1.0825), which is also close to Tuesday's minimum. In this case, the goal of the decline will be to support the price channel in the region of 1.0615.

Today is a holiday in the United States and Europe in observance of the Catholic Easter. Therefore, low volatility is expected.

The material has been provided by InstaForex Company -