Forex Analysis & Reviews: Forecast for EUR/USD on January 14, 2022

On Thursday, the euro rose a little more after a strong impulse on Wednesday. The price has settled above the target level of 1.1415, now it becomes a support for the bulls, pushing the price to the target level of 1.1570 – the high of January 2019. Successfully breaking this level opens a higher target - the 1.1700/22 range. The Marlin Oscillator is slightly tilting down, perhaps the further upward movement will not be so fast.

Investors have not been paying attention to macroeconomic statistics in recent days, but today there may be a divergence of data in favor of the euro: in the UK, industrial production in October may show an increase of 0.2%, France's CPI in November may show an increase of 0.2%, CPI Spain +1.3% m/m, the euro area trade balance for November is expected to increase to 7.6 billion euros from 3.6 billion in October, and in the US retail sales for December are forecast to decline by 0.1%. Industrial production in the US for December may show an increase of 0.3%, but for the big picture this is not very convincing.

On the four-hour chart, Marlin has discharged from the overbought zone, and now it is ready to resume growth.

*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