FX.co ★ Forecast for EUR/USD on May 20, 2021

EUR/USD

Through effort, the euro managed to reach the upper border of the price channel of the monthly timeframe (green line), but by yesterday evening it fell below the target level of 1.2177. Now the price should settle below the target level of 1.2177 in order to show the first intention to go down to 1.1985. The double divergence with the Marlin oscillator is confirmed.

The divergence is increasing on the H4 chart, while the Marlin oscillator has already made a short exit below the zero line. If the price moves under the MACD line, around the area of 1.2136, it will confirm the movement to the target level of 1.1985.