FX.co ★ Forecast for EUR/USD on January 27, 2023

Yesterday, the euro failed to move towards the 1.0990 target and rolled back to Wednesday's initial positions. If today's U.S. consumer income/expenditure data is close to the forecast, the 1.0990 target will be much closer for the pair.

Consumer spending for December is expected to be down 0.1%, while income is expected to be up 0.2% after a 0.4% gain in November.

As before, the probability of forming a divergence between the price and the Marlin oscillator with the consequent reversal of the price into a medium-term decline remains.

On the four-hour chart, the price returned above the MACD indicator line after a brief (and false) move below it. The same false movement was made by the Marlin oscillator yesterday. Currently, there is growth. Expect the day to close above Wednesday's closing level.