FX.co ★ Forecast for EUR/USD on February 23, 2023

On Wednesday, the euro did not provide any surprises and went 43 pips down to the target level of 1.0595, missing it by only 4 pips. The price settled in the consolidation range of December 16-29, which, following the main scenario, will move down quite quickly, since the signal line of the Marlin oscillator has already moved down from its consolidation.

Now we are waiting for the price to settle under 1.0595 and reach the target range of 1.0443/70 (the low of April 2022 - low of December 17).

The four-hour chart has all the prerequisites for quickly moving away from the achieved range to the downside. This is the current price development under both indicator lines, decline in the signal line of the Marlin oscillator, as well as in its own descending channel. I expect the price to settle under 1.0595.