FX.co ★ Forecast for EUR/USD on February 16, 2021

EUR/USD

Market volatility was low yesterday, as expected, since US markets were closed. This morning, the euro is showing its intention to rise to the target level of 1.2190. Going beyond it opens the second target of 1.2272 (high on December 17). The Marlin oscillator is accelerating its growth, we expect the euro to rise this week. A price decline below the MACD indicator line, under 1.2090, will trigger a decline for the euro to the target range of 1.1870-1.1915.

The Marlin oscillator went down into the negative zone on the four-hour timescale, but this decline can only be a reaction to a weak previous divergence, its effect on the price has ended and now Marlin is trying to get back into the zone of positive values. If the price moves below 1.2090 in the alternative scenario, it will also correspond to falling under the MACD line, which will strengthen the signal. The main local scenario is growth.