Forecast for EUR/USD on August 23, 2021

EUR/USD

Last Friday, the euro began corrective growth, reaching the resistance of the target level 1.1705. But the Marlin Oscillator must enter the zone of positive values in order to develop a larger correction, which will obviously happen not earlier than when it settles above 1.1705, that is, at least in a day. If this does not happen, the price will go off to reach the lower target level of 1.1640.

The price is approaching the MACD indicator line (1.1723) on the four-hour chart. Overcoming it opens the target at 1.1760 - strong support in the July 19-26 period. Consolidating above the level may extend the rise to the daily MACD line around 1.1847.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX