FX.co ★ Forecast for EUR/USD on August 27, 2019

EUR/USD

The euro pulled back on Monday, returning to the range of the past week waiting for the symposium in Jackson Hole, closing the day down by 41 points. Technically, the pullback occurred from the Fibonacci level of 110.0% and the indicator balance line on the daily chart. The signal line of the Marlin oscillator fluctuates at the boundary of trends - falling and rising.

On the four-hour chart, the price consolidated below the MACD indicator line, Marlin is still in the growth zone. In general, the situation remains uncertain and in equilibrium; to continue the decline, it is necessary to consolidate below the Fibonacci level of 123.6% (1.1074), moving upwards have three strong resistances: 1.1172 is the price channel line on daily, 1.1207 as the average value of the MACD line and Fibonacci level 100.0%, 1.1250 - the high of August 6, from any target, a price reversal into a medium-term decline can occur.