Forecast for EUR/USD on June 12, 2019

EUR/USD

Yesterday did not change the overall situation for the euro, even the readings of the leading Marlin oscillator remained at the same positions – on a four-hour scale, the signal line moves along the zero line, limiting the growth zone from the trend decline zone. Nevertheless, yesterday was marked by the growth of the euro. The growth of the instrument with neutral indicators carries the potential for further growth. Possible growth to the Fibonacci level of 76.4% on the daily chart (1.1356). Fixing above this level will allow the euro to grow more confidently, the goal will be the Fibonacci level of 61.8% at the price of 1.1444, which also coincides with the top of March 20.

For the development of the downward movement of the EUR/USD pair, much more needs to be done – to gain a foothold under the MACD line on H4, under the mark of 1.1265.

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The material has been provided by InstaForex Company – www.instaforex.com