FX.co ★ Forecast for EUR/USD on December 10, 2019

EUR/USD

Yesterday, the euro did not take strong movements, it only became convinced of the strength of resistance from the trend line and the Fibonacci level of 123.6% at the price of 1.1075. The signal line of the Marlin oscillator remains in the negative zone. The immediate goal of the euro is still 1.0985 - the Fibonacci level of 138.2%.

The price briefly exceeded the indicator lines of balance (red) and MACD (blue) and returned under these lines with consolidation on the four-hour chart today in the Asian session. The Marlin indicator is developing in the negative trend zone.

Today, the ZEW will publish estimates of sentiment in the business community of the eurozone in December, the forecast assumes moderate growth: 2.2 against -1.0 in November. Resistance at 1.1075, strengthened by the MACD line of the four-hour scale, this moderate optimism will be able to withstand. We are waiting for the price to fall further.