Forecast for EUR/USD on February 12, 2021

EUR/USD

As a result of yesterday, the euro has grown by 11 points. The Marlin oscillator has penetrated the zone of positive values, but such an insignificant transition is possible during periods of reversals, in the future they can be interpreted as false exits. But the price reversal we expect is still delayed. It will only come when the price is below the MACD indicator line, below 1.2085. Getting the pair to settle below this line opens the target on 1.1870-1.1915.

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A weak double divergence has formed on the 4-hour timeline. It increases the likelihood that the target level of 1.2190 will still not be reached and the price will try to overcome support at 1.2085. Below it is the MACD line, in the 1.2068 area, below which it is also necessary to gain a foothold before moving to the target range.

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

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