FX.co ★ Forecast for EUR/USD on January 18, 2024

EUR/USD

Euro turned upwards without reaching the support of the MACD line on the daily chart. However, the growth halted because of the stock market, which ignored the good data on retail sales and industrial production in the US. The indices may demonstrate an increase today.

The Marlin oscillator now shows a reversal more distinctly. For further confirmation, the pair needs to consolidate above the resistance level of 1.0905. That will likely result in a rise towards 1.1033. The continuation of the decline to 1.0730, near the price channel line, can be considered after the price overcomes 1.0825 and the MACD line.

On the four-hour chart, the pair remains under pressure, but this will change if the Marlin oscillator moves into a positive area. This means a consolidation above the level of 1.0905.