Forex Analysis & Reviews: Forecast for EUR/USD on January 20, 2022

Yesterday, the euro did not reach the support of the MACD daily indicator line (1.1300). The upward movement from yesterday and this morning looks more like a reversal to the upside than a consolidation before support. The signal line of the Marlin Oscillator turned up from its own zero line, from the border with the downward trend. All these signs suggest that the euro intends to overcome the target level of 1.1415 and continue to grow towards 1.1570.

The departure of the price under the MACD line, under the mark of 1.1300 will naturally open the door to a further decrease to the level of 1.1170.

On the four-hour chart, the Marlin Oscillator is in a hurry to leave the negative territory, the price is approaching the MACD indicator line at 1.1387, the transition above which visually coincides with Marlin's transition to the positive area. Such a synchronous signal will increase the growth potential.

Analysis are provided by InstaForex