Forecast for EUR/USD on September 3, 2020

EUR/USD

The euro continues to decline in the uncertainty range of 1.1710-1.1905. The double divergence on the Marlin oscillator is unfolding in full force on the daily chart, the indicator is already in the negative zone, which further increases the technical pressure on the price.

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We are waiting for the price at the lower border of the range, at which the MACD indicator line is already located. Setting the price below it will become a condition for the mid-term fall of the euro.

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The price settled below the balance (red) and MACD (blue) indicator lines on the four-hour chart. Marlin is in the negative zone. The situation is completely decreasing in this timeframe. The target for the decline is 1.1710.

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