Forex Analysis & Reviews: Forecast for EUR/USD on August 18, 2022

The euro rose by 11 points yesterday, the upper shadow of the daily candle did not reach the MACD line by 3 points (up to 1.0206), today this line slightly dropped to the price of 1.0202.

The price may work out the line, it may exit slightly above it with the upper shadow, it may go down immediately, but in general, we are waiting for the price to go under 1.0150 and further move towards the target level of 1.0020.

The signal line of the Marlin Oscillator also did not reach the zero line on the four-hour chart, so there is a possibility that the pattern of the synchronous reversal of the price and the oscillator from their resistances will end. In general, the corrective growth of the last 9-11 candles can be considered complete.

Analysis are provided by InstaForex

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