FX.co ★ Forecast for EUR/USD on August 3, 2023

EUR/USD

Yesterday, the euro reached the target level of 1.0924 with the lower shadow and almost touched the MACD indicator line (if we take the natural fluctuations into account, then we can say that it would seem as if it has reached the line).

Today's trading opened below the balance indicator line with a descending Marlin oscillator - there is a good chance of breaking below 1.0924 and opening the next target at 1.0865. After that, it may reach the target range of 1.0761/88.

On the four-hour chart, the price is entirely in a downtrend: it is falling below the balance and MACD lines, and the Marlin oscillator is descending in the negative territory, indicating enough room for further decline.