[B]Forex Analysis & Reviews: Forecast for EUR/USD on February 17, 2022

The euro rose by 13 points on Wednesday, testing the signal level of 1.1387 (high on December 31), the exit above which opens the bullish target level of 1.1496. The Marlin Oscillator moved into the positive area. Conditions for further growth are almost ready. But the price is currently in the range of nearly a two-month consolidation at the end of 2021, near its upper border (1.1387), so there are probably forces on the market that can return the price to a certain neutral state, to the middle of the range, below the level of 1.1330, in order to once again clarify the general geopolitical situation and the mood of the Federal Reserve.

The MACD line is strong on the four-hour scale; it prevents the price from overcoming the level of 1.1387, despite the actively growing Marlin Oscillator. Here we also note that the price is below the balance line, that is, the euro growth of the last three days was corrective. So, at the moment, the euro has a sideways trend.

Analysis are provided by InstaForex