FX.co ★ Forecast for EUR/USD on February 2, 2022

On Tuesday, the euro continued to rise and reached a moderate correction limit - the daily MACD line. From this line, the price may turn into a new wave of decline, but it is prevented by a strong convergence with the Marlin Oscillator. The probability that the price will consolidate above the level of 1.1300 (August 2018 low and November 2016 high) and continue to rise to the target level of 1.1450 is 55%. In case of a reversal, the bears will aim for 1.1060 (December 2015).

On the four-hour chart, the price has risen above both indicator lines, the Marlin Oscillator is growing, the trend is rising, the price has to settle above the level of 1.1300. But whether the price will be able to do this will show in the near future.