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10.06.202205:06 Forex Analysis & Reviews: Forecast for EUR/USD on June 10, 2022

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Yesterday, the European Central Bank meeting was held after which it announced the curtailment of the APP program by the end of the current month and the increase in the base rate by 0.25% in July. With the announcement of the news, the withdrawal of big investors from risk only intensified; The yield on 5-year US government bonds rose from 3.03% to 3.07%, the leading stock index S&P 500 decreased by 2.38%, the dollar index increased by 0.73%.

The euro overcame the support of the MACD line on the daily timescale and approached the first target of 1.0600. The Marlin Oscillator came close to the border of the bears' territory, visually, movement below 1.0600 and the transition of the oscillator to the negative territory will coincide in time, which will create a momentum for movement towards the target level of 1.0493.

On a four-hour timescale, the price develops in a downward movement under both indicator lines - the balance line and the MACD line. Marlin decreases in the negative zone. We follow the further development of the euro's decline.

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