For Traders

Analytical Reviews

Technical analysis

14.01.202106:21 Forex Analysis & Reviews: Forecast for EUR/USD on January 14, 2021

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

Yesterday, the euro dropped 48 points and returned to the consolidation range of 1.2132/77. Leaving the range for growth can be mistaken for a false movement when the price falls below the lower border of the range, and this will boost traders' confidence for an attack not only on the nearest target of 1.2050 along the MACD line on the daily chart, but also below, to the target level of 1.1920 ( high on November 9 and September 10).

The four-hour chart shows that the Marlin oscillator operates on the zero neutral line, which to some extent weakens its leading role as a leading indicator. But on the other hand, if the price falls, the oscillator will have enough margin for a downward movement. We are waiting for the development of the situation. Before the price falls below 1.2132, the price may once again try to test the MACD line at 1.2225.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.