FX.co ★ Forecast for EUR/USD on January 9, 2024

EUR/USD

The previous day proved to be volatile, but speculators were interested in risk; the S&P 500 gained 1.41%, the dollar index retreated by -0.15%, and the euro added 8 pips against this backdrop.

On the daily chart, the euro is trying to rise this morning, staying above the balance indicator line (red). The Marlin oscillator is rising, but the low slope of the line warns of a possible decline, possibly even down to 1.0825, where the MACD indicator line is approaching.

On the 4-hour chart, Marlin is already in the positive territory. Yesterday's attempt to break above the balance line was either unsuccessful or just a test, in order to break above it and settle today. According to the main scenario, we expect an uptrend. The first signal will be surpassing yesterday's high at 1.0979.