Forecast for EUR/USD on September 7, 2020

EUR/USD

The euro fell by 80 points last Friday as US employment data was released, but the bulls tried to win back their losses when the session was about to end, and so it closed the day with a black candle of 13 points. The balance indicator line stopped the decline on the daily chart.

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Today is a public holiday in Canada and the United States, so we have to postpone the attack on the 1.1720 target level near the MACD line for another day. The general downward trend continues, created by the triple divergence on the Marlin oscillator.

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The price is below the balance and MACD lines on the four-hour chart. The Marlin oscillator created the convergence, which warns of the continuation of the sideways movement today. The main range of movement is represented by the extreme levels from Friday: 1.1781-1.1865, but the price may slightly go beyond these boundaries.

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