Forecast for EUR/USD on April 20, 2020

EUR/USD
The euro did not dare to make any noticeable decline last Friday, moreover, it even grew by 35 points by preceding to pierce the signal level for selling 1.0830. Now this signal level is moving lower - to the Friday low at the 1.0812 level, overcoming the price opens the way to support the embedded line of the price channel in the region of 1.0610.



The overall situation of a decline persists on the four-hour chart. The price is developing under both indicator lines - under the line of balance (red) and MACD (blue), the Marlin oscillator in the territory of negative values.

The price increase is limited by the resistance of the MACD line at around 1.0920.



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

Analysis are provided byInstaForex.