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15.10.201906:26 Forex Analysis & Reviews: Forecast for EUR/USD on October 15, 2019

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EUR/USD

Trading on the market was calm on Monday, as oil set the tone, having fallen in price by 2.55% (WTI) and also slightly pressured counter-dollar currencies. The euro declined by 11 points - on the daily chart, the MACD indicator line exerted pressure, and the balance line supported from below. The Marlin oscillator in a growing trend zone.

On the four-hour chart, the divergence on the oscillator is formed, but the price stably stays above the balance line, which creates the likelihood of a double divergence, and if it forms, then the chance of a price reversal will increase. Euro growth is possible by 1.1074 - the Fibonacci level of 123.6% on daily, and if the divergence takes the classically correct form, the price output above the MACD line on the daily scale may turn out to be false.

Departure of the price under the range of 1.0985-1.1000 can immediately develop a downward movement. The first target will be the low of September 12 and 3, 1.0926.

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