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18.08.202106:10 Forex Analysis & Reviews: Forecast for EUR/USD on August 18, 2021

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EUR/USD

The euro never took advantage of the 70% probability of growth that it had yesterday. The bears seized the initiative and the euro fell by 68 points, having reached the nearest target of 1.1705. The Marlin Oscillator has penetrated into the downward trend zone and now, after dropping under 1.1705, the price can reach the next target of 1.1640. But only if the Marlin oscillator fails to return to the growth zone. This can happen when the price rises above 1.1752, that is, above the July 21 low.

The 1.1752 level is just below the MACD line on the four-hour chart. During the time the price rises to it, the MACD line will have enough time to reach this signal level and strengthen it. Accordingly, if the price rises above 1.1752, the price will steadily grow. But while the euro is facing the prospect of a further decline to 1.1640, for which the price will need to settle below 1.1705.

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