Forecast for EUR/USD on August 4, 2021

EUR/USD

The euro situation has not changed over the past day, the technical picture has been preserved in all its details. On a daily scale, the price is below the balance indicator line and slightly above the target level of 1.1847.

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The Marlin Oscillator is moving sideways in an upward trend area. Consolidating below 1.1847 will put the euro back on track for medium-term weakening. For the growth to develop, the price needs to settle above the MACD line and the target level of 1.1925. Market participants are awaiting Friday's US employment data.

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The price is above both indicator lines on the H4 chart, the Marlin oscillator is in the decline zone, the overall situation is neutral. For the development of a downward movement, the price must go below the MACD line (1.1837), that is, even below the level of 1.1847.

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

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