FX.co ★ Forecast for EUR/USD on August 2, 2023

EUR/USD

Euro once again tested the balance line of the daily timeframe and bounced upwards to test resistance at 1.1012. Since the Marlin oscillator continues to decline, the move towards 1.0924 will likely happen.

The failure to surpass this support will lead to a deep correction towards the range of 1.1068/92.

On the four-hour chart, the Marlin oscillator entered the positive zone.

Although the pair did not overcome 1.1012 for the first time, it could still rise to 1.1068/92 if it manages to secure itself above the level. But if it drops below 1.0953, it will likely head towards 1.0924.