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09.02.202304:56 Forex Analysis & Reviews: Forecast for EUR/USD on February 9, 2023

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The EUR exchange rate changed a bit at the end of yesterday, there was a weak test of resistance at 1.0758. The current support is the balance indicator line on the daily chart.

The Marlin oscillator is in no hurry to perform its leading role, lying in the horizon and waiting for a signal from the price. By its nature, the price settles under the resistance of the price level and the MACD line, as a consequence, we might receive a signal to strengthen the decline. The targets are the levels: 1.0660, 1.0595.

On the four-hour chart, the signal line of the Marlin oscillator has approached the zero line, the oscillator is released from the oversold area, and now it is ready for a new decline. Here we also see two unsuccessful attempts to rise above the resistance at 1.0758. In case we suddenly encounter a sudden breakout, the MACD line near 1.0815 could be the limit of the correction.

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