empty
 
 
08.04.2020 04:48 AM
Forecast for EUR/USD on April 8, 2020

EUR/USD

The euro correctively grew by 98 points on Tuesday, stopping at the resistance of the balance indicator line on the daily chart. The signal line of the Marlin oscillator showed a small reversal while still in the declining trend zone.

This image is no longer relevant

Of course, this is only an early and incomplete signal for a price reversal, the upper target of 1.0957 on the resistance of the embedded line of the price channel can be worked out. In the event of a reversal, the signal and condition of which will be overcoming the price of Monday's low (1.0768), the target opens along the lower line of the price channel at around 1.0620.

This image is no longer relevant

On the H4 chart, the price worked out the previously determined target range of 1.0900/27 and left it back down. But the Marlin oscillator remains in the growth zone and its signal line does not show an intention to leave this zone. The price also develops above the MACD line. To change the trend to a downward price, it must overcome the support of the MACD line, and this can happen just above the signal level of 1.0768, but in general, opening a short position with overcoming just this level looks preferable.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback