Forex Analysis & Reviews: Forecast for EUR/USD on January 18, 2022

Yesterday, the quote of the European currency did not break down from the target level of 1.1415 (the June 2019 high), lingered on it, and this morning it shows the intention to rise with the Marlin Oscillator turning up on the daily scale chart. The main scenario - growth to the target level of 1.1570 (the January 2019 high) has been preserved.

The price was supported by the balance indicator line (red) on the four-hour chart. The Marlin Oscillator is moving sideways. It can enter the positive area with the price crossing yesterday's high (1.1434). Thus, the level of 1.1434 becomes a confirming level of further growth. Consolidating below the MACD line, below 1.1386, may push the price to the daily MACD line to the area of 1.1310.

Analysis are provided by InstaForex