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07.11.201906:35 Forex Analysis & Reviews: Forecast for EUR/USD on November 7, 2019

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EUR/USD

On Wednesday, the euro adjusted slightly with the release of good data on the growth of industrial orders in Germany in September, showing 1.3% versus the expected 0.1%, but in the evening the general market interest in dollar purchases gained the upper hand and the euro closed the day with a decrease of 8 points. The Marlin oscillator has fixed itself below the boundary with the decline territory, and now the price can be expected on the support of the MACD line 1.1027. Overcoming the support opens the 1.0985 target - the Fibonacci level of 138.2%.

The price is developing quite calmly under the indicator lines on the four-hour chart, the signal line of the Marlin oscillator is a bit discharged from the oversold zone and is ready for a further decline.

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