For Traders

Analytical Reviews

Technical analysis

24.04.201906:36 Forex Analysis & Reviews: Forecast for EUR/USD on April 24, 2019

Long-term review

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

As we expected yesterday, the euro fell down. The movement was 62 points at the moment. The price reversal occurred when the signal line of the marlin oscillator touched the neutral line on the daily scale, from the boundary that separates the growth zone from the decline zone. At the same time on the four-hour chart, the marlin signal line turned down exactly from the trend line.

Now the marlin with the price of H4 can form a convergence - a correctional-reversal formation. We do not expect a reversal, but upon reaching the target level of 1.1155, a correction of 30-50 points is possible, that is, in the area of the lows of April 2 and 4.

However, in case the price leaves the target level in the absence of convergence, the decline may continue to the next target level of 1.1075 - the Fibonacci line of 123.6%.

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.