On Friday, we observed a price reversal from the balance indicator line. Yesterday, the price entered the target range of 1.2261/87, and this morning, it reached the MACD indicator line. Thus, a consolidation above the upper band of the range will correspond to a consolidation above the MACD line.
If it succeeds, the next target will be 1.2415/47. We expect the price to overcome this range and further rise to 1.2524, 1.2617. On the 4-hour chart, the price has settled above the MACD line, and now it is starting to form a consolidation within the range it reached.
The signal line of the Marlin oscillator has formally entered the bullish territory but may still show sideways movement, accumulating potential for further growth.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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