Forex Analysis & Reviews: Forecast for EUR/USD on April 22, 2021

EUR/USD Yesterday, the euro mirrored the situation on Tuesday: the day closed at the opening level, only the pronounced shadow was lower this time. The opening and closing of the days occurs above the Fibonacci level of 50.0%, which speaks in favor of further growth. The nearest target is the Fibonacci level of 61.8% at 1.2105. It is followed by 1.2200 at the Fibonacci level of 76.4%. The Marlin oscillator is directed to the downside, but it is not in the overbought zone, so this short decline is only a discharge of the oscillator before it grows further.

The price continues to rise on the four-hour chart. Marlin returned to the positive area. The two-day consolidation seems to be over, now we are waiting for it to move towards the specified goals.

Analysis are provided by InstaForex