Forecast for EUR/USD on January 26, 2021

EUR/USD

The euro fell by 32 points on Monday, turning from the target level of 1.2177, reached on Friday. The price's pull to surpass the MACD line at 1.2070 has increased. The Marlin oscillator, which turns down in the downward trend zone, provides support.

analytics600f7f3a21bce.jpg

On the four-hour chart, yesterday's price decline was held by the MACD line; today we are waiting for another attempt to overcome it. The Marlin oscillator has penetrated the negative area, which is a sign that the price will settle below 1.2125, that is, under the MACD line. The next task is to settle below 1.2070, afterwards the euro will establish itself in a medium-term decline.

analytics600f7f462027b.jpg

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

Pages