Forecast for EUR/USD on November 19, 2021

The euro gained 48 points on Thursday, on the day that market expectations (futures on rates) for the first rise shifted to February 2023 from the previous expectation in December 2022. Trading volumes for the euro were above average, but they were even larger on Wednesday. Combined with technical factors, these circumstances indicate the market's intention to turn into medium-term growth, that is, at least the price will rise above the MACD indicator line (above 1.1572) and will try to reach the target level of 1.1750. At the moment, the nearest target is the target level 1.1448 - the high of March 2019.

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On the four-hour chart, the Marlin Oscillator has consolidated in bull territory. This will help the price fight the resistance of the MACD line (1.1400). A price exit above this line will be the first technical sign that the price has chosen an upward direction.

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

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