Forecast for EUR/USD on March 19, 2021

EUR/USD

The euro turned down ahead of our expectations. This morning, the price returned to the opening of Wednesday. For a number of other currencies, their growth, shown on Wednesday, was significantly blocked yesterday. The daily trading volumes for the euro and other major currencies were the highest this week. And although yesterday's macroeconomic reports were a third-rate factor in strengthening the dollar, they show the stable predominance of the US recovery: the eurozone's trade balance fell from 27.5 billion euros to 24.2 billion in January, the index of business activity in the manufacturing sector of Philadelphia showed an explosive growth from 23.1 to 51.8 points in March.

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On the daily chart, the reversal occurred at the moment when the signal line of the Marlin oscillator turned down from the border of the bulls' territory, which shows how big players are in control of the situation during the entire consolidation since March 10 in the range of 1.1910/90. Now there is only one way - to the first target level 1.1800. The next in line is the target level of 1.1745.

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The price attacks the MACD line on the four-hour chart. The declining Marlin oscillator provides confidence in this action.

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

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