Forecast for EUR/USD on May 15, 2020

By | May 15, 2020
InstaForex
Forecast for EUR/USD on May 15, 2020

Relevance up to 21:00 2020-05-15 UTC–5

EUR/USD

The euro fell by 12 points as a result of yesterday. The price did not attack the signal level for the bearish players at 1.0767 and began to consolidate in front of it. Consolidating under the indicated level opens up the movement to the embedded line of the price channel of the weekly chart, to the area of 1.0590. The signal line of the Marlin oscillator is just below the border of the growth territory, in front of the indicator is a large empty space. The decline may be lower than the specified target.

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The price is consolidating below the MACD line on the four-hour chart. A similar consolidation is taking place along the Marlin oscillator. We are waiting for the price to overcome the control level of 1.0767, which will be a signal to open short positions.

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2020

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