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Forecast for EUR/USD on July 19, 2021

EUR/USD

Friday's report on retail sales in the United States for June exceeded expectations: the total volume showed an increase of 0.6% against the forecast of -0.4%, the core index added 1.3% (forecast 0.4%). The dollar index strengthened by 0.14%, but the euro fell by only 7 points. But the mood kept falling, technical indicators support it.

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On the daily chart, the signal line of the Marlin oscillator is slowly moving to the lower border of its own local rising channel. Exit from it to the downside will accelerate the euro's decline. The first target at 1.1705 is the March low.

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The price and oscillator have formed triangles on the 4-hour chart. The synchronous output of the price and the oscillator from the triangles down can also set momentum for a downward movement. The signal level is Friday's low at 1.1792.

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