Forecast for EUR/USD on January 21, 2021
The euro lost 22 points on Wednesday amid fears of a recession in Europe and slow progress in vaccinations. Today the ECB will meet and these factors, most likely, will have to be taken into account by the central bank, which will affect its economic forecast. At the moment, the price is testing the correction range of 1.2132/77 from below. The price will probably not stay in it and will try to test the support of the MACD line (1.2065). Getting the price to settle below 1.2065 will direct the quote to the 1.1915 target.
The price is developing under the MACD indicator line on the four-hour chart. The Marlin oscillator is in a growing position, but is also in a leading position. When the price goes down, it will move to the negative zone.
The material has been provided by InstaForex Company – www.instaforex.com