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31.01.2022 05:56 AM
Forecast for EUR/USD on January 31, 2022

Last Friday, the euro consolidated under the target resistance level of 1.1170. We expected that this consolidation would precede a further decline towards 1.1050. And in order for the emerging price convergence with the Marlin Oscillator not to take place, otherwise there will be a price reversal upwards, a decrease, at least a small one, already by today.

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On the four-hour chart, the signal line of the Marlin Oscillator rose high enough to reverse again. This signal line may still enter the consolidation range, marked with a gray area, but we expect a quick downward reversal from it.

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Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Yuriy Zaycev
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