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12.01.202106:48 Forex Analysis & Reviews: Forecast for EUR/USD on January 12, 2021

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EUR/USD

The euro fell by almost 70 points on Monday, stopping in the designated range of 1.2152/77. Consolidation is observed in the range this morning. With the exit from the consolidation to the downside, more precisely, with the price moving below yesterday's low of 1.2132, we expect the quote to fall towards the target along the MACD line at 1.2045.

Exchange Rates 12.01.2021 analysis

The four-hour chart shows that the price is consolidating in a narrow range of 1.2152/77, but the corrective reversal of the Marlin oscillator warns of a possible exit from this range, just slightly above it. The signal to sustain the fall will be when the price crosses the area under yesterday's low of 1.2132.

Exchange Rates 12.01.2021 analysis

Laurie Bailey
Analytical expert of InstaForex
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