Forex Analysis & Reviews: Forecast for EUR/USD on June 6, 2022

The optimistic data on US employment released on Friday helped the dollar to slightly strengthen against most world currencies. The euro fell by 27 points. The Marlin Oscillator resumed its decline on the daily chart. The price is moving towards the support of the MACD indicator line (1.0675). Breaking this line will open the target level at 1.0600. Consolidating below the level opens the 1.0493 target. This is the main scenario. A breakthrough above 1.0780 would naturally open the 1.0830 target, but a move higher to 1.0940 at that stage looks unlikely.

The price settled below the MACD line on the four-hour chart, the Marlin Oscillator has reached the border with the territory of the downward trend and is preparing to overcome it. We are waiting for the development of a downward trend.

Analysis are provided by InstaForex

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