22.07.2022 05:25 AM
Forecast for EUR/USD on July 22, 2022

Yesterday, the European Central Bank raised the main rate from 0.00% to 0.50%. Preliminary preparation of the market through the media was successful - by now the euro is at the level of the ECB release - market participants were not inspired by this decision. As a result, we observe the traditional market rule - if the asset does not grow, then it will fall.

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For a medium-term fall of the euro, you need to go under the support level of 1.0150. Targets will open: 1.0020, 0.9950, 0.9850. The Marlin Oscillator is turning down on its approach to the neutral zero level. The signal line of the oscillator fits into the framework of the descending channel.

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The price is still above the balance and MACD indicator lines on the H4 chart. The MACD line already cancels the intention to turn up, now it is moving horizontally. The Marlin Oscillator, after sharp fluctuations above the zero line, breaks it down. We are waiting for further development of the euro's downward movement. Supports: 1.0150, 1.0092, 1.0020, 0.9950.

Laurie Bailey,
Analytical expert of InstaForex
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