FX.co ★ Forecast for EUR/USD on October 7, 2021

EUR/USD

Corrective decline in the euro continued yesterday below the target level of 1.1570. It would seem that now the path to the target level of 1.1448 (the high of March 2019) is open, but here the convergence with the Marlin oscillator is activated, which can bring the price back above the level of 1.1570 and return the situation to at least a neutral state.

On a four-hour chart, the price convergence with the Oscillator is developing in full force. To reverse the trend into an upward price, it will be necessary to consolidate above the MACD indicator line, above 1.1582. But until this happens, we are following the development of events without active trading actions.