Forecast for EUR/USD on August 20, 2021

EUR/USD

The euro was down 32 points on Thursday. It still has about the same amount to go down to reach the target level of 1.1640. The Marlin Oscillator has slowed down the rate of decline and the advance to 1.1640 may take two or even three days.

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On the four-hour chart, the price is already consolidating below the level of 1.1705. The Marlin Oscillator is moving sideways. Consolidation is likely to continue below the level of 1.1705. If the price goes above it, this might strengthen the correction to the MACD line to the 1.1730 area.

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

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