Forecast for EUR/USD on September 30, 2020

EUR/USD

The euro gained 78 points on Tuesday, almost reaching the lows of August 21 and September 9, and it might think about going back and falling to 1.1550. The signal line of the Marlin oscillator slows down and marks a downward reversal. Setting the price above 1.1754 may push the euro higher to the MACD line to the 1.1880 area. This is an alternative scenario.

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The price has settled above the MACD line on the four-hour chart, but the Marlin oscillator is planning a reversal, and is currently moving sideways. The near-reversal situation on the daily timeframe may be decisive. If the price moves under the MACD line, below 1.1700, it opens the first target at 1.1650. Consolidating below the level opens the second target at 1.1550.

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