FX.co ★ Forecast for EUR/USD on February 25, 2020

EUR/USD

The market was calm on Monday. There was no hot political news, which became a favorable ground for the mass closing of short positions and fixing the profits of euro sellers.

According to the daily chart, the price went above the Fibonacci level of 161.8% and visually headed to the upper level of 138.2% (1.0898). The signal line of the Marlin oscillator came out of its own downward channel up, which increased the local upward trend. At the moment when the price reaches the target level of 138.2%, the Marlin line will reach the border with the territory of growth. Here, the indicator and the price will probably turn down in the direction of the main trend.

As seen on the four-hour chart, the price was fixed above both indicator lines with Marlin in the growth zone. We are waiting for the price to work out the level of 1.0898.