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09.05.2024 04:59 AM
Forecast for EUR/USD on May 9, 2024

EUR/USD

Yesterday, the euro was in a calm state, as accurately warned by the Marlin oscillator, gradually falling on the daily chart. The US Treasury auction did not strengthen the dollar.

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The situation remains the same – the price strives to overcome the support at 1.0724, while Marlin is trying to move into the downward zone, which will help the euro reach the target range of 1.0636/56. Surpassing this range will open up the target of 1.0567.

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On the 4-hour chart, the price is consolidating above the balance (red) and MACD (blue) indicator lines. The Marlin oscillator has settled on a downward trajectory and is attempting to pull the price down. If the price breaks below the support at 1.0724, this may accelerate the pair's decline.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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