Forex Analysis & Reviews: Forecast for EUR/USD on June 8, 2021

EUR/USD
The euro gained 23 points on Monday, going deeper into the accumulation range of May 18. The intention to form a triple divergence with the Marlin oscillator has intensified. Also, the price may turn down within the accumulation range, since the Marlin oscillator is still in the negative zone and is in no hurry to get out of it. The probability of the price reaching the level of 1.2272 is about 40%.

On the four-hour scale, the situation is similar in terms of uncertainty, here the oscillator is in the growth area, but the price is below the indicator lines. A breakthrough above the MACD line, above 1.2214, will increase the probability that the price will reach the 1.2272 level to 50%.

Analysis are provided by InstaForex