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24.03.2023 05:38 AM
Forecast for EUR/USD on March 24, 2023

Yesterday, the euro desperately tried to climb above the MACD line on the daily chart, as well as on Wednesday, but at the end of the day, it closed below this line with a black candlestick. Now it is very likely (more than 50%) the euro will not reach the target level of 1.0990.

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The Marlin oscillator reverses, the price is reluctantly heading towards the target range of 1.0758/87. If it breaks through this range, the price may reach the 1.0443/70 range in the medium term - to the lower limit of the newly formed local downward price channel in green.

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On the four-hour chart, the signal line of the oscillator is in a hurry to move into negative territory, after which it can slow down the decline, but having already found itself below the zero line, it will be able to help the price overcome the supports in favorable conditions.

The MACD line is below the target range of 1.0758/87, strengthening this range, so helping the bears will come in handy.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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