Forecast for EUR/USD on October 2, 2020
EUR/USD The euro rose by 26 points yesterday, a stronger movement was prevented from developing the signal level of 1.1754, created by the lows of August 21 and September 9. The Marlin oscillator is showing the first signs of a reversal. Perhaps with the release of US employment data, this reversal will intensify. The US unemployment rate for September is expected to fall from 8.4% to 8.2%. The first target for the euro is 1.1650, then 1.1550.
The price formed a divergence with the oscillator on the four-hour chart. In order to confidently decline, The price needs to settle below the MACD line below 1.1688. We are waiting for the development of events.
Analysis are provided by InstaForex