For Traders

Analytical Reviews

Technical analysis

19.09.202206:43 Forex Analysis & Reviews: Forecast for EUR/USD on September 19, 2022

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 hit two target levels last Friday. The first is 0.9950, while the second is 1.0032. The latter has once again become a resistance level because of the MACD line. Meanwhile, the Marlin oscillator is slightly above zero, but this does not prevent the pair from turning due to the strong resistance level. The oscillator's reversal and the price movement are synchronous.

The first target is still the recent support level of 0.9950, while the next target is 0.9850. An alternative scenario is a consolidation above 1.0032 and subsequent growth to 1.0150.

In the H4 chart, the pair is trying to fight the resistance level of 1.0032, which was reinforced by the MACD line. The Marlin oscillator is in negative territory, showing the intention to turn down. As such, it is likely that the price will decrease to the first target level of 0.9950.

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.