Forecast for EUR/USD on August 27, 2020

EUR/USD

The euro's attempt to attack the lower limit of the uncertainty range of 1.1710-1.1905 was aggressively suppressed yesterday, the candle formation of the daily chart turned out to have an extended lower shadow. The signal line of the Marlin oscillator is now trying to return to the downward trend zone, but the euro will try to reach the upper limit of the range until its last strength.

The price settled above the MACD line on the four-hour chart, and Marlin is growing in the zone of positive values. The euro has become noticeably stronger over the past three days. It is likely that the 1.1905 level will be recovered, perhaps with a small and short-lived exit of the price moving higher. This scenario does not contradict the main plan for a medium-term decline in the euro.

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