Forecast for EUR/USD on July 7, 2020

EUR/USD

The euro broke the resistance of the target level of 1.1265 on Monday, showing a growth of 61 points. The price peaked on June 23. After overcoming the intermediate level of 1.1353, we expect the growth to continue to 1.1420, the second goal is 1.1465. Reaching any of these levels with the Marlin oscillator will form a technical divergence, which will become a reversal signal. Perhaps a medium-term downward trend.

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The price is firmly held above both indicator lines on the four-hour chart – the balance line (red) and the MACD line (blue). The Marlin oscillator is in the growth zone. We are waiting for the euro to grow to the designated goal of 1.1420.

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