FX.co ★ Forecast for EUR/USD on August 21, 2019

EUR/USD

The euro yesterday once again noted the low of August 16th and bounced off it, up into the range of expectations of the conference in Jackson Hole – 1.1066-1.1120. On the daily chart, the signal line of the Marlin oscillator is more pronounced in the growing position, but this growth occurs in the zone of negative numbers – in the zone of the decline of the promising trend.

On the four-hour chart, Marlin is already in the growth zone. Now, the euro can be expected at least at the upper limit of the consolidation range of 1.1120. The exit of the price above the level will open the target represented by the MACD line in the area of 1.114.

The main scenario remains – the subsequent price drift under the current consolidation and the decline of the euro to the Fibonacci level on the daily chart of 138.2% at the price of 1.0980.