empty
 
 
16.02.2022 05:49 AM
Forecast for EUR/USD on February 16, 2022

Yesterday, the euro rose by 53 points as a correction from the support of the MACD line. At the moment, the signal line of the Marlin Oscillator is turning down from the zero line, which creates a sign of the completion of this correction, followed by a repeated attack on the MACD line. The 1.1300 target level is being modified to the 1.1280 level – Monday's low. Consolidation below the level opens the way for further decline to the target level of 1.1060. The exit of the price above the December 31 high at 1.1387, as above the upper limit of the consolidation of December 2021, may extend the euro's growth to the level of 1.1496, and overcoming it opens the way to the target range of 1.1700/22.

This image is no longer relevant

The price is turning down from the MACD line on the four-hour chart. At the same time, the signal line of the Marlin Oscillator is also turning down from the zero neutral line. Here we see a simultaneous (expected) Marlin reversal from the zero line on both scales, which strengthens the signal. The main scenario remains down.

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 $9000 more!
    In May we raffle $9000 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