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09.02.2023 04:56 AM
Forecast for EUR/USD on February 9, 2023

The EUR exchange rate changed a bit at the end of yesterday, there was a weak test of resistance at 1.0758. The current support is the balance indicator line on the daily chart.

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The Marlin oscillator is in no hurry to perform its leading role, lying in the horizon and waiting for a signal from the price. By its nature, the price settles under the resistance of the price level and the MACD line, as a consequence, we might receive a signal to strengthen the decline. The targets are the levels: 1.0660, 1.0595.

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On the four-hour chart, the signal line of the Marlin oscillator has approached the zero line, the oscillator is released from the oversold area, and now it is ready for a new decline. Here we also see two unsuccessful attempts to rise above the resistance at 1.0758. In case we suddenly encounter a sudden breakout, the MACD line near 1.0815 could be the limit of the correction.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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