For Traders

Analytical Reviews

Technical analysis

06.01.202206:16 Forex Analysis & Reviews: Forecast for EUR/USD on January 6, 2022

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.

Yesterday, the EUR/USD pair made a desperate attempt to overcome the resistance of the MACD indicator line on the daily chart. The attempt failed thanks to strong data on new jobs in the private sector from ADP, which showed an increase of 807,000 in December against the forecast of 405,000. Who have already shown their determination to defend their interests. The target for the euro remains the same - 1.1170.

On the four-hour chart, the price went above the MACD line with consolidation, but now it is trying to return back under it, and then yesterday's price exit above this line will be interpreted as false, which in turn will create an independent and additional signal for a further price decline. Such a signal will be confirmed when the price moves below the nearest low of 1.1302. The Marlin Oscillator is already introducing itself into the negative area, helping the price return under the MACD line.

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.