FX.co ★ Forecast for EUR/USD on March 25, 2021

EUR/USD

The euro fell by 36 points as a result of yesterday, close to the target level of 1.1800 (the low on November 23, 2020). The likelihood of a correction has greatly increased, as a double convergence is forming with the Marlin oscillator on the daily chart.

We expect corrective growth to be not very big, rather, it can become long-lasting - bulls are unlikely to surpass strong resistance above 1.1875, because the majority of investors are already moving to the sellers' camp. The correction, first of all, can be caused by the closing of short positions before the long period of the western Easter holidays from March 26 to March 29.

The Marlin oscillator has fallen into the horizon on the H4 chart, which is also a sign of a probable correction.