FX.co ★ Forecast for EUR/USD on January 30, 2020

EUR/USD

The results of yesterday's Fed meeting were completely neutral. The US central bank has identified the current economic situation as stable by including coronavirus in the risk factor. Current repo operations will continue until May without substitution for long-term repurchase of securities. Exchange rates did not respond to this information.

The euro nearly touched the target level at the Fibonacci level of 1.0986 yesterday, at the moment the price is below the line of the price channel and the probability of further decline remains, but correctional growth has been outlined on a smaller chart.

The main sign of correction for H4 is the convergence of the Marlin oscillator, its signal line has already penetrated into the growth zone. There are two resistances on the path of price correction: 1.1046 - the MACD line on H4 and 1.1080/90 - the area of the Fibonacci level of 123.6% and the MACD line on the daily chart. We look forward to the completion of the correction and further weakening the euro.