Forecast for EUR/USD on January 14, 2020

news_22_feb_4_euro_usdOn Monday, the euro grew by 29 points at the moment as part of the expected correction.

The price received resistance from the MACD line on a four-hour chart.

The line also coincides with the correctional level of 38.3%. Here, the correction can be considered completed.

Exchange Rates 14.01.2020 analysis

If the euro reverses down from current levels, the Marlin oscillator signal line on the daily chart will reverse from the boundary with the territory of an upward trend, at the moment the value of the line is 0.0008, but this penetration is not deep, a price reversal is possible. Overcoming yesterday’s high may extend the growth to the Fibonacci level of 110.0% on the daily chart (1.1155).

Exchange Rates 14.01.2020 analysis

We are waiting for the euro to decline to support the MACD line and the Fibonacci level of 123.6% on the daily chart at a price of 1.1073. Overcoming the level opens the second target along the line of the price channel 1.1036.

Origin: InstaForex

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