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09.04.202005:09 Forex Analysis & Reviews: Forecast for EUR/USD on April 9, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

The euro is not rushing to break through the technical support – the "bullish" mood has slightly strengthened over the past day. The signs of the previous testing of the target range of 1.0955 / 80 have increased before going into a medium-term decline.

Exchange Rates 09.04.2020 analysis

The price has already reached the balance line on the four-hour (H4) chart. The Marlin oscillator feels confident and calm in the growth territory, while breaking through the support of the MACD line at the price of 1.0805 starts a decline towards the target of 1.0615.

Exchange Rates 09.04.2020 analysis

From a practical point of view, opening purchases is associated with an increased risk of uncertainty. Therefore, it is suggested to wait for clear market signals, the first of which may be breaking through the MACD line on the four-hour (H4) chart.

Laurie Bailey
Analytical expert of InstaForex
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