FX.co ★ Forecast for EUR/USD on August 12, 2021

EUR/USD

Yesterday, the euro met the target level of 1.1705 and went into corrective growth without slowing down. The growth is not big yet, only 17 points, but the Marlin oscillator is struggling with the zero line in order to move into the rising trend zone, and then the growth will accelerate. The first target is 1.1847, June 18 low. The MACD indicator line is approaching it.

On the four-hour scale, the Marlin Oscillator has infiltrated the growth zone. This will help the price in attacking the resistance of the MACD line (1.1785).

In yesterday's review, we assumed that the price would stay in the darkened area for two days before exiting the MACD line. Well, we just have to wait another day and, perhaps, on Friday evening, the price will make its first attempt to overcome this resistance.