FX.co ★ Forecast for EUR/USD on January 19, 2021

EUR/USD

The euro showed a slight decline on Monday, which was obstructed by the MACD line on the daily timeframe. The Marlin oscillator slightly turned, which generally creates a corrective situation. The development of the correction is possible in the range of 1.2132/77, afterwards we are waiting for a new branch of the decline.

The signal line of the Marlin Oscillator returned to a horizontal range on the four-hour chart, and at the same time, a convergence of the price and the oscillator was formed. The corrective model looks clearer here. The MACD indicator line enters the 1.2132/77 range, which confirms the anticipated scope of completing the correction. We are waiting for the correction to end and after overcoming yesterday's low at 1.2054, the price moves to 1.1915.