FX.co ★ Forecast for EUR/USD on April 23, 2021

EUR/USD

The euro fell by 18 points as a result of yesterday's European Central Bank meeting, simply due to the fact that the meeting took place. It was neutral, ECB President Christine Lagarde said that the European economy is weaker than the US one in terms of the recovery pace. In fact, there is nothing new and at the moment the price is trying to rise above the 50.0% Fibonacci level on the daily chart (1.2028). If the price succeeds, then we expect it at the Fibonacci level of 61.8% at around 1.2105.

Yesterday's decline was held by the MACD line on a 4-hour scale. Confirming how reliable this support is will be when the Marlin oscillator enters into the growth area. This will happen 20 points from the current price, that is, the 1.2040 level becomes a signal for the euro to advance further.