For Traders

Analytical Reviews

Technical analysis

19.12.202306:03 Forex Analysis & Reviews: Forecast for EUR/USD on December 19, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

Yesterday, the euro closed with a white candle above the level of 1.0905, and the signal line of the Marlin oscillator quickly returned to the bullish territory. Although this isn't a signal that the pair will rise to the level of 1.1033, it removes the risk of a decline to 1.0825.

Perhaps the bulls still do not have enough long positions to overcome 1.0946, then we will see the price consolidating in the range of 1.0905/46. On the 4-hour chart, the price has settled above the level of 1.0905 and above the 38.2% Fibonacci corrective level.

The Marlin oscillator is misleading the bulls, showing an intention to move below the neutral zero line. At the same time, this is a sign of an upcoming correction in the range of 1.0905/46. A consolidation below the lower band of the range will sharply increase the risks of a decline.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.