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

Forecast for EUR/USD on February 19, 2021

EUR/USD

The consolidation that we expected for the euro turned into a full-fledged correction yesterday. The euro gained 50 points and this morning the resistance attacked the MACD line. The signal line of the Marlin oscillator also attacks the zero line from below - it tries to enter the zone of positive values. If the price still manages to settle above 1.2100, it will continue to rise to the previous targets, which were abandoned: 1.2190, 1.2272. But the main scenario has not yet been closed. According to it, a price reversal from the current levels is possible, and with the price moving below Thursday's low of 1.2023, it may continue to fall to the range of 1.1870-1.1915, or in turn in each of the levels.

Forecast for EUR/USD on February 19, 2021

The price also stopped at the resistance of the MACD line on the four-hour timescale, while Marlin has not yet crossed the border of the growth trend. According to the main scenario, we are waiting for a reversal, according to an alternative consolidation above the indicator lines.

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Forecast for EUR/USD on February 19, 2021

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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