Forecast for EUR/USD on January 4, 2021

EUR/USD

The euro has formed a double divergence with the Marlin oscillator in the last two trading days, making it clear that the strained price growth is finally over. Despite the thin market on the 31st, the euro fell by 77 points on the average daily volumes of December. Since the price overcame the low (1.2215) of the final trading day of 2020, we expect it to fall even further to the MACD line on the daily chart, to the 1.2028 area.

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The Marlin oscillator is already in the negative (decreasing) trend zone on the four-hour chart, the price has retested the MACD line since the market opened with a gap. Now we are waiting for this to close and price to move towards the designated target.

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