Forecast for EUR/USD on June 21, 2021

EUR/USD

Over the past three days, the euro has made its way to 275 points and reached the target level of 1.1855. The last time the price was here was on April 6th. We still expect at least a slight correction from the level reached before the price moves to the second target level of 1.1705 (March 31st low). The second target will open with the price consolidating below 1.1855.

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A weak convergence with the Marlin oscillator has formed on the four-hour chart. This is a sign of a correction. The price growth is likely to lead to a slight consolidation on the 18th, in the area around 1.1910. We are waiting for its completion and a new wave of decline in the European currency.

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

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