FX.co ★ Forecast for EUR/USD on February 2, 2021

EUR/USD

Yesterday, the euro finally decided to overcome the support of the MACD indicator line. The euro fell by 75 points. Now the 1.1980 target is open. The 1.1870-1.1915 range, which is the second target, is just below it. A weak risk of such a decline is seen in the initial stage when forming a price convergence with the Marlin oscillator. But this is still an alternative to today's scenario.

The situation is completely decreasing on the four-hour chart; the price is below the balance and MACD indicator lines, while the Marlin oscillator is in the zone of negative values, there is no convergence according to Marlin. Since the price surpassed yesterday's low (1.2056), we are waiting for it to move to the first target of 1.1980.