Forecast for EUR/USD on August 21, 2020
The euro attempted a correction on Thursday after a significant fall on Wednesday, yesterday’s growth was 25 points. The price continues to move in a horizontal trend within the uncertainty range of 1.1712-1.1905. The double divergence of the Marlin oscillator continues to exert overall pressure on the price on the daily chart.
The price went over the MACD line on the four-hour chart. The barrier to it is the upper limit of the uncertainty zone at the 1.1905 level.
When the price rises to this level, the signal line of the Marlin oscillator will reach the border of the rising trend territory, from which it can turn down, thereby showing a proactive direction to the price, since Marlin belongs to the group of leading indicators. With the price returning to the area under the MACD line, we expect a new wave of decline from the euro.
The material has been provided by InstaForex Company – www.instaforex.com