empty
 
 
17.07.2020 04:51 AM
Forecast for EUR/USD on July 17, 2020

EUR/USD

The euro has strengthened its reversal signs over the past day. Having decreased by 30 points, the price points indicate the upcoming divergence with the Marlin oscillator with great emphasis. The signal line of the oscillator is about to move into the zone of negative values. The declining mood will become clear after the price moves below the signal level of 1.1349 - the June 23 high. In this case, the euro's nearest target is 1.1265, then 1.195, which is approaching the MACD line.

This image is no longer relevant

On the working scale of H4, the signal line of the Marlin oscillator went down from its own rectangular range, entering the downward trend zone. The MACD line approached the signal level of 1.1349, which strengthened the significance of this level - the stronger it is, the more important it is for the price to overcome it.

This image is no longer relevant

However, a reversal might not form. If the price goes above the level of 1.1420, the 1.1465 target will open again. Overcoming 1.1465 paves the way to 1.1560, towards forming a less steep divergence on the daily scale.

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 $8000 more!
    In March we raffle $8000 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