FX.co ★ Forecast for EUR/USD on April 18, 2023

Yesterday, the euro fell by 0.59% and became the leader of the day. The price is approaching the 1.0890 target, set by the MACD line on the daily chart. The Marlin oscillator, which is rapidly declining towards the border of the area of the downtrend, is helping the price to reach this target.

Later, when the price overcomes the support of the indicator line and Marlin ends up in negative territory, the euro will steadily embark on a medium-term decline. The nearest target after consolidating below 1.0890 is the 1.0758/87 range.

On the four-hour chart, the price has spent a lot of energy consolidating below the balance and MACD indicator lines. The Marlin oscillator is also slightly recovering after a strong downward movement. The support level at 1.0890 is strong, so the price needs to rest for a bit before attacking it.