FX.co ★ Forecast for EUR/USD on March 1, 2021

EUR/USD

The euro fell by 99 points last Friday, broke through the support of the MACD line, but the Marlin oscillator only touched the border of the downward trend area and now a correction is taking place.

The downward momentum is set strong, we are waiting for the price to move to the 1.1870-1.1915 target range. From the specified range, we expect a correction of the order of one figure, afterwards it could fall again (1.1760). The nearest target, however, is 1.2023, but in order to reach it, it is necessary to overcome Friday's low, as shown on the four-hour chart.

The trend is completely downward on the four-hour chart, while the Marlin signal line is slightly to the upside, showing the current correction.

So, we are waiting for the price to surpass the signal level of 1.2062.