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11.09.201905:23 Forex Analysis & Reviews: Forecast for EUR/USD on September 11, 2019

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.

EUR/USD

Markets already have ideas about tomorrow, when the ECB is expected to announce new measures to ease monetary policy. As usual, exaggerated expectations include lowering the rate, compensating banks for the negative impact of negative rates, launching an asset purchase program on the regulator's balance sheet ... Of course, all measures, even if they were discussed in the working order, cannot be introduced immediately. Up to the point that nothing can be changed at all but only announce imminent changes tomorrow. The reaction of the euro can be completely unpredictable here. From rise to fall. As an effect of deceived expectations and as a work ahead of schedule.

Exchange Rates 11.09.2019 analysis

From the technical side, the euro remains unchanged from yesterday, the control levels are not broken, and this facilitates the practical task; if the price consolidates above the upper level of 1.1073 - the Fibonacci level of 123.6%, the price will go to the magnetic point of 1.1157 formed by the coincidence of the Fibonacci level of 110.0%, the price channel line and the MACD line on the daily chart. Such a development of the situation is partly indicated by the Marlin oscillator of the daily TF - its signal line has not yet reversed from the boundary with the growth territory.

The price drop below the Fibonacci level of 138.2% (1.0986) opens the way to a fall in the area of the Fibonacci level of 161.8% and the lower line of the price channel, to the area of 1.0838.

Exchange Rates 11.09.2019 analysis

On the four-hour chart, the price also remains in a neutral situation, but here the Marlin oscillator came even closer to the trend change line.

Laurie Bailey
Analytical expert of InstaForex
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