FX.co ★ Forecast for EUR/USD on June 2, 2020

EUR/USD

The euro closed Monday with an increase of 35 points, but the embedded price channel line (daily) did not allow it to go higher. The signal line of the Marlin oscillator is slightly bent down, and a pullback is possible from the achieved resistance. So far, we consider the expected pullback only as a corrective one. The expected pullback range is 1.1019/50. The lower limit of the range is the May 1 high.

The Marlin oscillator formed a small divergence on the four-hour chart, apparently corrective. The reference point for the decline is the MACD line, at the moment it is in the 1.1019/50 range.

After the pullback, the euro may again attack yesterday's high and continue to grow to the target range of 1.1250/65. Unless, of course, Marlin on the daily chart does not go ahead of the peak.