FX.co ★ Forecast for EUR/USD on May 9, 2022

On Friday, after the release of US employment data, the euro traded in a range of 116 points, closing the day up 10 points. The lower shadow of the daily candle once again tested the support line at 1.0493. This morning, the signal line of the Marlin Oscillator turned down and it is likely that this support will be overcome today. Then the price will go to the lower border of the price channel in the area of 1.0387. A little lower is the target level of 1.0340, the low of January 2017.

On the four-hour chart, the price went under the balance (red) and MACD (blue) indicator lines, the Marlin Oscillator moved into the negative area. We are waiting for further price movement down.