FX.co ★ Forecast for EUR/USD on August 17, 2021

EUR/USD

Yesterday, the euro fell 17 points as part of our anticipated consolidation ahead of further gains towards the 1.1847 target, set at the 18 June low. The price can still stay sideways for some time without prejudice to maintaining the growing trend, but if the Marlin oscillator penetrates into the negative zone, then we can expect the price to return to the level of 1.1705. A clear signal of a return to growth will be the price crossing over Friday's high at 1.1805.

The price is held by the MACD indicator line on the four-hour chart. During this time, the signal line of the Marlin Oscillator managed to release tension and is now ready to continue its growth. The probability of growth is 70%.