Forecast for EUR/USD on June 17, 2020

EUR/USD

The euro fell 60 points on Tuesday due to fears of a second wave of coronavirus infection that erupted in China, now in the capital, Beijing. More significant was the reason for the increased demand for dollars during the placement of US debt - this week the US Treasury offers bonds for an incredible worth $460 billion.

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At the moment, the price is slightly lingers at the target level of 1.1265. The signal line of the Marlin oscillator is rapidly approaching the boundary of the territory of the negative trend, and the next target at 1.1195 will probably be reached today.

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The price already lingers at the target level and looks like a horizontal consolidation, which is a sign of further decline. The Marlin oscillator is already in the negative zone.

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