FX.co ★ Forecast for EUR/USD on November 19, 2019

EUR/USD

On Monday, the euro grew by 20 points, having worked out the target range of 1.1073/93. The euro has a chance to go above the resistance of the downward line of the price channel and continue to grow to the Fibonacci level of 110.0% at the price of 1.1155, but the signal line of the Marlin oscillator unfolds and approaches the territory of the bulls, which indicates the imminent completion of the correction. The immediate goal of the downward movement will be to support the MACD line on daily 1.1013.

On the four-hour chart, Marlin shows no obvious reversal signs. These can be of two types: divergence and spike. The absence of a pronounced signal warns of a possible small price growth in the range. Perhaps with a small exit above 1.1093, and then it will be the development of the actual price channel line.