FX.co ★ Forecast for EUR/USD on February 26,2020

EUR/USD

The euro grew in corrective growth by 30 points on Tuesday, slightly not reaching the Fibonacci level of 138.2%. But working out the level is not necessary, in the observed situation, the price stopped at the top of February 13, the Marlin oscillator is already showing a reversal without leaving the negative trend zone.

On the four-hour chart, the Marlin signal line contracted into a wedge with the formation of a double divergence, this is a sign of an upcoming price drop. An obvious condition for the fall will be when the price overcomes yesterday's low. Next, the support of the MACD line (1.0812) should be overcome. By this time, the signal line of the Marlin oscillator will move to the territory of the bears and the price will go to 1.0745.