empty
 
 
04.06.2020 04:53 AM
Forecast for EUR/USD on June 4, 2020

EUR/USD

Yesterday, the euro reached the target range of 1.1250/65 and today, with the support of the Marlin oscillator turning down, it is ready to head for a correction. The purpose of the correction is the embedded line of the price channel in the region of 1.1133. Consolidating the price below it opens a deeper target 1.1019 (May 1 high). If the price goes above the upper boundary of the target range of 1.1265, the second bullish target at 1.1342 will open.

This image is no longer relevant

The divergence on the Marlin oscillator still formed on the four-hour chart (yesterday we questioned the formation of this reversal pattern). Target level at 1.1133 coincides with the MACD line, which it is aiming for. Working out this correction level is our main scenario.

This image is no longer relevant

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 $1000 more!
    In April we raffle $1000 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