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19.10.202205:01 Forex Analysis & Reviews: Forecast for EUR/USD on October 19, 2022

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The euro stalled on the strong price level resistance at 0.9864 (September 6 low) in line with the daily MACD indicator line.

The Marlin Oscillator is growing in the positive area, which means that the price is preparing to exit above the resistance. If this attempt turns out to be successful, then the increase may last up to 0.9950/52, the low of July 14th. In order for the price to turn towards 0.9724, it needs to overcome the cluster of peaks on October 13-14 near the level of 0.9806.

The situation is similar on the lower timeframe; consolidating above 0.9864 will allow the euro to rise to the target level of 0.9950, consolidating under 0.9806 will again direct the quote in a downward direction to the target level of 0.9724.

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