FX.co ★ Forecast for EUR/USD on February 15, 2021

EUR/USD

Last Friday, the euro closed the day with a slight decline of 11 points, but the lower shadow worked out the support of the MACD indicator line. This may be a sign of the euro's succeeding growth (in several days). The signal line of the Marlin oscillator did not turn down from the border of the growth area, but crossed it, which indicated a rising potential. It can be overcome only when the price falls below the MACD line (1.2082), that is, below Friday's low. The first growth target is the 1.2190 level (high on January 22), the euro's success with surpassing this level may develop by rising to the second target level of 1.2272 (high on December 17-18).

Today is a public holiday in the US and Canada. We expect weak reports from the eurozone; industrial production for December is expected to decline by 1.0%, a worsening of the trade balance from 25.8 billion euros to 25.3 billion. Today is probably a day for waiting.

The Marlin oscillator briefly invaded the bears' area on the four-hour chart, but went back to growth. The trend is upward on this chart.