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17.08.2022 05:11 AM
Forecast for EUR/USD on August 17, 2022

The euro spent the entire Tuesday at the support level of 1.0150. There was no qualitative breakthrough under this level (with consolidation), we are waiting for it today or tomorrow. The correction limit is the daily MACD line (1.0206).

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The euro spent the entire Tuesday at the support level of 1.0150. There was no qualitative breakthrough under this level (with consolidation), we are waiting for it today or tomorrow. The correction limit is the daily MACD line (1.0206).

This image is no longer relevant

The price is slowly developing a correction on the four-hour chart. The option with the price reaching the MACD line of the daily scale (1.0206) while the Marlin Oscillator works out the zero line and the subsequent synchronous downward turn seems to be the main scenario. In any case, after consolidating under 1.0150, we are waiting for further price decline to the level of 1.0020.

Laurie Bailey,
Analytical expert of InstaForex
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