13.04.202105:45 Forex Analysis & Reviews: Forecast for EUR/USD on April 13, 2021

EUR/USD

Yesterday, the euro decided to postpone its decline and traded in the April 8th range, looking closely at government bond yields and probing market sentiment regarding reports on retail sales and industrial production in the US that will be released on Thursday. The forecast for Industrial Production in March is 2.8% against the February collapse of -2.2%, while retail sales are expected to grow 5.9% against the previous contraction of -3.0%. Nevertheless, market participants decided that a chain of good economic reports would induce the Federal Reserve to raise rates earlier than planned.

The dollar is strengthening against all major currencies in today's Asian session. The Marlin oscillator is turning down from its own resistance line (0.0092) on the daily chart. The targets 1.1810 and 1.1745, as well as yesterday, are the main ones in the short-term perspective of the euro.

The price has formed a small rectangle on the four-hour chart, from which, judging by the mood of the Marlin oscillator, which has penetrated into the downward trend on the four-hour chart, a downward exit will take place. Falling below the signal level of 1.1861 will become a signal that confirms the intention.