For Traders

Analytical Reviews

Technical analysis

03.08.202005:27 Forex Analysis & Reviews: Forecast for EUR/USD on August 3, 2020

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

The euro fell 67 points last Friday, which formed a divergence with the Marlin oscillator on the daily chart. Apparently, this is the reversal of the single currency, which we have been waiting for several days. The nearest target for the euro is 1.1620. The second target is 1.1490 (March high), the third target is 1.1420 (May high).

A double divergence has already formed on the 4-hour Marlin chart. The signal line of the oscillator is fixed on the territory of the bears. If the price moves under the MACD line (1.1740), it opens the way to a decline to the first target of 1.1620.

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.