FX.co ★ Forecast for EUR/USD on June 29, 2021

EUR/USD

The euro lost only a few points on Monday, but this showed the main thing - the intention to continue the decline to the first target of 1.1855, and then, if it overcomes this support, to strengthen the fall to 1.1705.

Doubt is shown only by the Marlin oscillator on the daily chart, it never formed a reversal. Perhaps even before Friday's US employment report, macroeconomic data may not come as a pleasant surprise. For an alternate growth scenario, the price needs to settle above the signal level of 1.1970. In this case, the price may subsequently try to reach the MACD indicator line in the area of 1.2060.

The price is above the balance and MACD indicator lines on the four-hour chart, the Marlin oscillator is on the zero line. For a downward signal, the price needs to go below these indicator lines, which coincide with yesterday's low at 1.1902. Perhaps it is this support that is felt by Marlin on a daily scale and keeps the market's interest in buying.