Forecast for EUR/USD on September 23, 2020

EUR/USD

Yesterday, the euro came out of a two-month range and today, it approached the first target of 1.1620 during the Asian session. There are no reversal signs on the daily chart. We are waiting for the price to quickly fall to the third target of 1.1480, about a week. On this path, the second target (1.1550) is located in front of the price – the low of November 2017.

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The price has formed a small convergence with the Marlin oscillator on the four-hour chart, which could mean that it would take some time for the price to reach the target level of 1.1650. This is expected, as the price fell by one and a half figures over the previous two days.

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