Forex Analysis & Reviews: Forecast for EUR/USD on December 23, 2020

EUR/USD
Yesterday, the single European currency fell by 80 pips. Trading volumes were above average, which can already indicate direct sales of the euro. The option with double divergence, which we allowed yesterday, is canceled, since the signal line of the Marlin oscillator has already come close to the border with a negative trend and the transition beyond it will give a new impetus to the decline. The target of the decline is determined by the range 1.1985-1.2040, it is determined by the indicator line of the MACD and the embedded line of the price channel of the weekly timeframe. Breaking the range opens the target of 1.1885 (October 21 high).

On the four-hour scale, the price is fixed under the lines of the balance indicator (red) and MACD (blue) indicator, the Marlin oscillator is declining. We are waiting for the development of a downward trend in the target area.

Analysis are provided by InstaForex