FX.co ★ Forecast for EUR/USD on April 26, 2024

EUR/USD

Yesterday, it was difficult for the euro to close the day with a white candle, under pressure due to the high volatility of the stock market. The pair has reached the target level of 1.0724, and the next target is 1.0757.

The current position of the Marlin oscillator, which is becoming more flat every day, indicates a low probability that the price will climb above 1.0757, just as Marlin itself is not averse to a downward reversal from the zero line. A sign of such a reversal will be the price consolidating below the level of 1.0724. We are waiting for the price to trade in the 1.0636/56 range.

On the 4-hour chart, the signal line of the Marlin oscillator has already tried to move out of the consolidation range by moving downward on Thursday. At the same time, a divergence with the price was formed. These circumstances reduce the chance of even working off the nearest resistance at 1.0757. The choice will become clear on Monday morning.