29.06.202204:54 Forex Analysis & Reviews: Forecast for EUR/USD on June 29, 2022

Yesterday, the euro fell by 64 points, turning around from the resistance of the target level of 1.0600, which confirmed the falsity of a short-term exit above the level of the upper shadow of the daily candle on Monday.

Exchange Rates 29.06.2022 analysis

Now the price turned out to be below the balance and MACD indicator lines, the price is preparing to overcome the support of 1.0493, in order to then head towards the target of 1.0340 – to the low of January 2017. A confirming signal for a decline is a double reversal of the Marlin Oscillator from the zero line (arrows).

Exchange Rates 29.06.2022 analysis

On the four-hour chart, the double unexpressed divergence of the price with the oscillator worked out. Marlin is already in negative territory, ready to push the price further. Under the level of 1.0493 there is another support – the MACD line. Overcoming it will accelerate the price movement to the downside.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022
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