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10.04.202407:24 Forex Analysis & Reviews: Forecast for EUR/USD on April 10, 2024

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EUR/USD

The euro continues to jump this week, as the European Central Bank meeting is set to take place tomorrow. The price has not yet reached the MACD line on the daily chart. Perhaps this was influenced by the Marlin oscillator, which moved down from the zero line.

At the moment, the price is slightly below the balance line. The euro is probably getting weaker. Tomorrow, we expect (according to the main scenario) the price to surpass 1.0796 and move towards 1.0724. The next target is 1.0632 (May 2023 low).

On the 4-hour chart, the Marlin oscillator continues to move to the right in a narrow range. Today, the signal line may fall below the lower boundary of the range and below the boundary of the bearish territory. The main events are expected tomorrow.

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