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Forex Analysis & Reviews: Forecast for EUR/USD on August 4, 2022
time 04.08.2022 05:06 AM
time Relevance up to, 05.08.2022 05:05 AM

The euro traded with a range of 45 points on Wednesday, closing the day at the opening level, above the support of 1.0150. The signal line of the Marlin Oscillator also failed to cross the zero line into the bears' territory. Thus, the price level of 1.0150 appears to be quite strong, the price may develop an acceleration when it is overcome. Downward targets: 1.0020, 0.9950.

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The price settled under both indicator lines on the H4 chart. Yesterday the price went through the shadows of the support at 1.0150 and the resistance of the MACD line. Marlin has a downward direction, we are waiting for the price to settle under 1.0150 and its further fall.

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This plan will be disrupted after the price settles above the MACD line (1.0195). In this case, the growth will continue to the daily MACD line - 1.0255.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022
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