Forecast for EUR/USD on March 20, 2019

EUR/USD

On Tuesday, the euro slightly grew, but the upper limit of the resistance of the price channel failed to reach several points. But this does not prevent the price from turning around from its current values, following the example of the February 28 reversal (red arrow), when the euro turned into a 240-point decline. But for a technically correct signal, it is necessary for the price to go under the MACD line, below 1.1310.

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The marlin oscillator signal line is quite a bit on the four-hour chart, but has already moved into negative territory, a double divergence formally took place. Here, the key support is the MACD line at 1.1305, which is near the support on a daily basis.

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Thus, when the price leaves the area below the range of 1.1305/10, it paves the way to the support of the price channel 1.115.

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

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