Forex Analysis & Reviews: Forecast for EUR/USD on January 27, 2023

Yesterday, the euro failed to move towards the 1.0990 target and rolled back to Wednesday's initial positions. If today's U.S. consumer income/expenditure data is close to the forecast, the 1.0990 target will be much closer.

Consumer spending for December is expected to be down 0.1%, while income is expected to be up 0.2% after a 0.4% gain in November.

As before, the probability of forming a divergence between the price and the Marlin oscillator with the consequent reversal of the price into a medium-term decrease remains.

On the four-hour chart, the price returned above the MACD indicator line after a brief (and false) move below it. The same false movement was made by the Marlin oscillator yesterday. Currently, there is growth. Expect the day to close above Wednesday's closing level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

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