Forecast for EUR/USD on July 30, 2020

EUR/USD
Yesterday, the euro fulfilled its irresistible and inextinguishable desire to work out the border of the global price channel at around 1.1804. This channel originates from the July 2008 high. The price begins to form a divergence with the Marlin Oscillator. The first target of the decline is 1.1620.

The Marlin divergence looks unambiguous on the four-hour chart, and it was created twice in a row. We are waiting for the price to move to the target level of 1.1620. On the way to it, the price will face an obstacle in the form of the MACD line in the area of 1.1686.

Analysis are provided by InstaForex