Forex Analysis & Reviews: Forecast for EUR/USD on January 4, 2022

Finally, the euro has made its choice. Yesterday, on solid volumes (despite the fact that there was a day off in Japan and Great Britain), the price went under the daily-scale balance and MACD indicator lines, and this movement was the largest since November 26 (but then there was a price increase). Now the euro is facing the nearest target of 1.1170, but such a powerful start clearly indicates that the target is deeper, for example, 1.1050 - the high of March and December 2015.

On the four-hour scale chart, the price also went under the balance and MACD indicator lines, settled below them, Marlin is in the downward trend zone. We are waiting for the price at the first target of 1.1170.

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

Analysis are provided by InstaForex