Forecast for EUR/USD on June 2, 2021


The euro closed yesterday with a black candle, but made an attempt to rise above the consolidation range, which is below the target level of 1.2272 (peak on December 17, 2020). This morning, the price returned to the Tuesday opening, blocking all of yesterday's gains. The point is that on the daily scale, a triple (or fourfold, depending on the calculation, as can be seen in the figure) divergence can form with the development of the 1.2272 level or slightly above the level. Consolidation above the level is fraught with the risk of continued growth to the target levels of 1.2310, 1.2350.


The main scenario with the price falling to the support of the MACD indicator line, to the area of 1.2075, is still in effect.

The price has settled below the MACD line on the four-hour chart, the Marlin oscillator is in the growth area. The short-term situation is neutral.


The material has been provided by InstaForex Company -