Forecast for EUR/USD on April 30, 2020


The euro almost imperceptibly reacted to the Fed's neutral monetary policy decision on Wednesday. Tuesday's high was not overcome, but the euro is declining this morning. The signal line of the Marlin oscillator touched the boundary of the growth territory and showed a downward turn from it on the daily chart.


The magnetic point formed by the intersection of the MACD line and the price channel of 1.0935 may not be reached. The condition for starting the euro's medium-term decline will be for the price to go below the April 6 low (1.0768).


The price once again failed to overcome the resistance of the MACD line on the four-hour chart, staying in the accumulation band of the second half of April. The signal line of the Marlin oscillator formed a small triangle, going down from it will strengthen the fall of the indicator and price.

So, our expectation remains the same - with the price going below the signal level of 1.0768, the prospect of moving to the nearest target along the line of the price channel of 1.0600 opens up.

The material has been provided by InstaForex Company -