Forecast for EUR/USD on June 19, 2020

EUR/USD

The dollar continues the offensive. The euro fell by 37 points yesterday, having reached the bears' target level of 1.1195. The signal line of the Marlin oscillator almost touches the border of the downward trend territory. Marlin's transition to the zone of negative values will allow the price to move even deeper, to the target of 1.1120, from which a correction of about fifty points could follow.

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The Marlin oscillator forms a convergence on the four-hour chart, but just like last time, yesterday, the support of the convergence line could be broken and, as a result, it will not form at all. If the price consolidates below 1.1195, we expect a decline to the target of 1.1120.

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