FX.co ★ Forecast for EUR/USD on August 4, 2021

EUR/USD

The euro situation has not changed over the past day, the technical picture has been preserved in all its details. On a daily scale, the price is below the balance indicator line and slightly above the target level of 1.1847.

The Marlin Oscillator is moving sideways in an upward trend area. Consolidating below 1.1847 will put the euro back on track for medium-term weakening. For the growth to develop, the price needs to settle above the MACD line and the target level of 1.1925. Market participants are awaiting Friday's US employment data.

The price is above both indicator lines on the H4 chart, the Marlin oscillator is in the decline zone, the overall situation is neutral. For the development of a downward movement, the price must go below the MACD line (1.1837), that is, even below the level of 1.1847.