Forecast for EUR/USD on July 14, 2020

EUR/USD
The euro showed the expected growth on Monday, but the structure of this growth was tricky, there was a potential for the price to turn down, in a deep correction, for example, to the target level of 1.1195. This warning signal is weak on the daily chart. This is the probability of a reversal of the signal line of the Marlin oscillator from the border of the growth territory. Consolidating the price above yesterday's high will continue to develop in the market according to the main scenario – the euro's growth in the target range of 1.1420/65 with a divergence forming on Marlin.

The risk of a downward price reversal is stronger on the four-hour chart - this is a double divergence on the Marlin oscillator. Leaving the price below 1.1265 opens the remaining path to 1.1195. After falling below this level, the price will face a difficult task of reaching the target level of 1.1010 – it will face both difficult supports and weak dynamics on the discharged oscillators.

Analysis are provided by InstaForex