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20.08.201906:04 Forex Analysis & Reviews: Forecast for EUR/USD on August 20, 2019

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EUR/USD

The eurozone balance of payments for June published yesterday showed a decrease from 30.3 billion euros to 18.4 billion against expectations of an increase to 32.2 billion euros. The final CPI score for July was lowered from 1.1% y/y to 1.0% y/y. The euro fell 11 points, once again finding support at the Fibonacci level of 123.6% (1.1074).

On the daily chart, the signal line of the Marlin Oscillator maintains a rising direction, the growth potential as part of the consolidation is preserved ahead of the Jackson Hole Symposium.

On the four-hour chart, the oscillator line approached the boundary with the growth zone. This zero line is an independent resistance for the indicator, especially in a calm market. In the consolidation range, the price can make a false puncture of yesterday's high, thus, the correction will be 1.1066-1.1120.

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