FX.co ★ Forecast for EUR/USD on February 22, 2024

EUR/USD

Late Wednesday, the euro approached the resistance of the target level of 1.0825, and this morning it is trying to rise above it. And since the Marlin oscillator is rising in the bullish territory, and the stock market closed slightly higher, the euro will surely be able to consolidate above this resistance level.

Next, the price will have to overcome the MACD line (1.0870), and only then can it count on further growth in the range of 1.1001/43.

On the 4-hour chart, the pair is following an uptrend. The price breaks through the resistance of 1.0825, and Marlin provides support. After the price consolidates above the level, we expect the price to rise to 1.0870.

If the price breaks the support of the MAC line around 1.0782, then the upward movement will be a false signal. The price will attack the nearest support at 1.0724 with the intention of consolidating below it.