For Traders

Analytical Reviews

Technical analysis

09.07.201906:13 Forex Analysis & Reviews: Forecast for EUR/USD on July 9, 2019

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

On Monday, the euro fell by 11 points, but did an important thing from a technical standpoint - it was fixed under the indicator lines of balance and MACD on the daily chart and below the trend line of the price channel. Now the path to the target level of 1.1155, defined as a market reaction by Fibonacci 110.0%. Marlin oscillator points to a strong bearish potential.

On the four-hour chart, the signal line of the Marlin oscillator did not try to jump into the growth zone, remaining in the territory of negative numbers. The price is steadily developing below the balance and MACD lines.

Fed Chairman Jerome Powell is speaking tonight on stress test, and probably won't touch monetary policy, as he will speak in the House of Representatives tomorrow. But today there are still scheduled speeches by Bullard, Quarls and Bostic, perhaps one of them will comment on the strong Friday employment data.

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.