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25.03.202005:32 Forex Analysis & Reviews: Forecast for EUR/USD on March 25, 2020

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EUR/USD

The euro worked out the first target correction level of 1.0879 on Tuesday, determined by the low of October 2019. Overcoming the level did not happen, today it is possible to repeat such an attempt, or to continue pulling down the price to support the embedded line of the price channel in the region of 1.0636. The success of the euro in overcoming resistance will allow it to continue to grow to the second correction target 1.0967 - to the point of coincidence of three lines: the Fibonacci level of 38.2%, the embedded line of the price channel, the MACD line, which aims at this point.

On a four-hour chart, the price at 1.0879 was also met by the resistance of the balance line indicator. The Marlin oscillator began to decline, the probability of the price moving to the lower target of 1.0636 is 60%.

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