Forex Analysis & Reviews: Forecast for EUR/USD on April 12, 2022
The euro did not reach the target level of 1.0945 on Monday, to which it was reaching during the correction, and turned down. Now the price has an intention to go under the support of 1.0820 in order to be able to develop a full-fledged attack on the target range of 1.0636/70. However, there is one small detail that gives a chance for the price to continue sideways movement in the range of 1.0820-1.0945 for a few more days – the almost horizontal movement of the Marlin Oscillator.
On the four-hour chart, yesterday's growth did not go above the balance indicator line, which was a classic correction. The Marlin Oscillator has been growing ahead of the price all this time, it went into the positive area due to the convergence formed the day before, and now it is ready to return to the downtrend zone and drop deeper than the previous low, into the oversold zone.
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