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

Forecast for EUR/USD on April 19, 2021


Last Friday, the euro hit the resistance level of 1.1990 at the point where it coincides with the MACD indicator line on the daily chart and is declining this morning, reaching Friday's low. The Marlin oscillator is turning down. Perhaps this is a reversal to the 1.1810 target and to subsequent, lower target levels.

Forecast for EUR/USD on April 19, 2021

The technical complexity of the current moment on the H4 chart; the gap remains open and the divergence with the oscillator risks becoming double, and the double divergence will create a cross with an undefined target. You can even allow 1.2023 - the low on February 17.

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Forecast for EUR/USD on April 19, 2021

But Marlin is still in the negative zone, so it may continue to fall, and the closing of the gap will be postponed indefinitely. But the price needs to settle below the MACD line for such a scenario, below 1.1930. In this case, the 1.1810 target will become relevant.

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