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Forecast for EUR/USD on July 13, 2021

EUR/USD

As we expected, the euro settled above the level of 1.1855 on Monday. There was a short decline in the price (shadow on the daily), but it did not change the situation on the lower timeframes. But yesterday's low formed a new signal level at 1.1836 - surpassing it may become a prerequisite in order to reach the target level of 1.1705. if the price goes beyond the July 6 high at 1.1895, then it will be a sign of growth towards 1.1975. Although, it may not reach this level, as the Marlin oscillator has approached the border of the growth area and may turn downward from it.

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The Marlin oscillator has begun to form a Head and Shoulders pattern on the four-hour chart. If the price moves below the signal level 1.1836, it will also correspond to the price falling below the MACD indicator line and the introduction of the Marlin oscillator into the negative area. Thus, the level is the key, we follow the development of events.

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