FX.co ★ Forecast for EUR/USD on March 24, 2020

EUR/USD

The euro showed a timid correction growth on Monday, but this growth has become confident today in the Asian session. The signal line of the Marlin oscillator continues to gain strength. The first goal of the correction is still the 1.0879 level – the October 1, 2019 low, its overcoming opens the second goal of 1.0967 – the area where the 38.2% Fibonacci level intersects with the embedded line of the price channel and, possibly, also the MACD line, which is approaching this point. The level is created strong, so now we expect the euro to fall from it with a high probability.

The Marlin oscillator strengthened the growth on the four-hour chart, the signal line was fixed in the zone of positive values – the first goal of 1.0879 is likely to be taken, and the pair's quote will continue to grow towards the second goal.