FX.co ★ Forecasts for EUR/USD on January 21, 2020

EUR/USD

On Monday, the euro traded for the support of the MACD line and the Fibonacci level of 123.6%. Trading volumes were not high as a result of the lack of American players on the market due to a national holiday in the United States. Today, the market has the task to gain a foothold under yesterday's low, under the Fibonacci line 123.6% (1.1073). This will lead to the opening of the nearest target of 1.1033 - to the embedded line of the price channel. Overcoming support opens the second target of 1.0986 - the Fibonacci level of 138.2%. The Marlin oscillator is going down in the territory of the bears.

The downward trend is not broken on the H4 chart - the price is developing under the indicator lines, the Marlin oscillator is also in the negative zone.