Forecast for EUR/USD on October 18, 2021

EUR/USD

The euro traded in a small range on Friday, consolidating after the previous two-day gains. The Marlin Oscillator continues its vigorous growth, which is a sign of its imminent entry into the positive zone. The target reference point, where the medium-term perspective of the euro will be decided, is the MACD indicator line on the daily scale chart - 1.1658. Consolidating above this line will open the target at 1.1750, then 1.1852.

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On the four-hour chart, the Marlin Oscillator turns upward from the zero line. To break the upward trend, the price must overcome the support of the MACD line in the area of 1.1558.

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

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