FX.co ★ Forecast for EUR/USD on January 25, 2023

The euro closed Tuesday with slight gains, some other counter-dollar currencies closed the day with losses. Investors are gently probing for further growth (Forex), but the stock market is not stable. Yesterday, the S&P 500 closed the day almost flat (-0.07%), the Russell 2000 was down 0.22%, whereas PMIs came out good.

There was a new divergence on the daily chart. Nonetheless, it is just an expectation of a renewed divergence, which might be broken. Therefore, the uptrend is still present, and the target is 1.0990.

On the four-hour chart, the price has once again moved away from the support of the MACD line, the Marlin oscillator continues to rise in the positive area. It is still in an uptrend. I expect the price to reach the target level of 1.0990.

Consolidation under the MACD line, below 1.0845, will be the first signal for a reversal.