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

EUR/USD

The euro still managed to make an attempt to move upwards to the upper limit of the price channel at 1.1057. Now the price can immediately reverse to move towards the April 17th low at 1.0910, which is approached by the MACD indicator line on the daily chart.

A divergence scenario has also appeared. For this, the price needs to grow further to the April 14th high or even overcome it, and then go below 1.1033. The Marlin oscillator is aiming for such a scenario. The price channel will be updated, as well as the bearish targets.

On the four-hour chart, the price has already moved far away from the MACD line. Even on this chart, there is a probability of forming a weak divergence. However, since the price has almost consolidated above the 1.1057 level, the April 14th high is likely to be overcome. We are waiting for technical signs of a reversal to the downside.