FX.co ★ Forecast for EUR/USD on May 21, 2021

EUR/USD

The euro cannot decide to reverse. Yesterday's growth by 0.44% covered the decline on Wednesday, the price is once again trying to test the strength of the upper border of the price channel, even after forming a double divergence with the Marlin oscillator. Yesterday's growth in the euro is to some extent associated with the fall in yields on US government bonds, so for 5-year securities, the yield fell from 0.859% to 0.815%. The technical support for yields (for 5-year terms) is the level of 0.784%, the yield on it was on April 22. To carry out such an operation and want and prick, because the Federal Reserve increases the intrigue without assessing the situation.

We will not run ahead, we define the current moment in the euro as uncertain; there is double divergence and significant technical resistance. Failure of this structure is possible with strong fundamental factors. Reports on indicators of business activity for May in the eurozone and the United States will be released today, rather, these data will not be enough for a serious change in the market. Investors have reason to postpone active actions for the next week.

The Marlin oscillator is turning down on the H4 chart, but in order to generate a signal, the price must go below the MACD line, approximately below the level of 1.1270. We are waiting for the development of the situation.