FX.co ★ Forecast for EUR/USD on May 29, 2019

EUR/USD

Yesterday, the euro prepared the conditions for further reduction of about 150 points, to the target of 1.0985 – the Fibonacci level of 138.2%. The euro fell by 31 points, reaching a support level of 110.0%. On the daily chart, the price fixed below the balance line (indicator red) and the MACD line (indicator blue), the Marlin oscillator moved to the negative zone.

On the four-hour chart, the price is also under all indicator lines, the Marlin oscillator is in the trend decline zone. We are waiting for the euro to decline to the first target of 1.1075 – the Fibonacci level 123.6%, then the price is waiting for the Fibonacci level 138.2% at the price of 1.0985.