empty
 
 
24.07.2020 05:21 AM
Forecast for EUR/USD on July 24, 2020

EUR/USD

The euro has so far paused with a downward turn, spending the entire day in the target range of 1.1560-1.1620. Consolidating the price above the upper limit of the range will provoke further growth to 1.1735 (August 28, 2018 high), but with a 60% probability, we expect a price reversal to 1.1420 and further into a medium-term decline. The Marlin divergence is slowly being created.

This image is no longer relevant

The price consolidates under the target level of 1.1620 on the four-hour chart, which creates an increased probability of its breakout. However, the Marlin oscillator turns down, showing a weakening trend. Yesterday's trading volumes were noticeably lower than Wednesday's.

This image is no longer relevant

Despite the reduced probability of a price reversal from current levels (from 70% to 60%), we are waiting for this main scenario to be implemented. Consolidating the price at 1.1560 will be the first signal of its development.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback