Forecast for EUR/USD on August 14, 2020

EUR/USD

The euro's 28 points gain from yesterday plunged into a wide range of uncertainty and wandered through 1.1710-1.1906. The Marlin oscillator is directed downwards on the daily chart, and the price is exactly at the 1.1806 target level. The price could reach the upper border of the price channel at 1.1906 without a critical upward reversal of the oscillator. The price may even cross this border and a double divergence will not form according to the oscillator, which creates increased uncertainty for the currency pair.

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For a medium-term downward movement, it is no longer enough for the price to gain a foothold below the 1.1806 level, it should consolidate below the lower border of the 1.1710 range.

The situation is no less uncertain on the four-hour chart. The Marlin oscillator is in the growth zone, the price is above the balance line, but below the MACD line.

Trading the euro today and even on Monday is associated with increased risk.

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