FX.co ★ Forecast for EUR/USD on May 18, 2022

The euro rose on Tuesday, penetrated into the accumulation zone on April 28-May 11 - a range of 1.0493-1.0600, where it can wander freely. We are waiting for the moment when it stops wandering, the price will go under the lower border of the range and return to the support of 1.0340. Then we are waiting for this support to be overcome and move towards 1.0170 (approximate high of November 2002).

The Marlin Oscillator touches the zero line on a daily scale, symbolically overcomes it, and in line with the main scenario, it can move along it. Consolidating above 1.0600 may shed a corrective growth to the MACD line in the area of 1.0720.

The price develops above both indicator lines on a four-hour scale, Marlin lies in the horizon in the positive area. The potential is growing, but growth in the range is not predictable.