FORECAST FOR EUR/USD ON APRIL 6, 2023

On Wednesday, the euro fell by 49 points, showing an intention to turn down in the short or medium term. However, this behavior has signs of a false movement.



There is no price divergence with the Marlin oscillator on the daily chart, which is rare for the saw-toothed movement of the oscillator signal line. There may be another final surge of the oscillator and the price, even if it doesn't reach the target level of 1.1033. At least (while there is no divergence), the price should settle below the MACD indicator line to create a sign of reversal, and that will take at least a day. If the bears succeed, the price will move to the target range of 1.0758/87. Meanwhile, the price can still try to overcome the April 4 high.



On the four-hour chart, the price falls below the MACD line, but the main support is the line of the higher chart (1.0872). The Marlin oscillator is already in the area of the downtrend, but there can also be a breakthrough.

Analysis are provided by InstaForex.

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