On the daily chart, the price has settled above the MACD indicator line and above the level of 1.2610. The Marlin oscillator is in a rush to enter the positive territory to support the growth and help the price reach the target level of 1.2745.
This level represents the upper boundary of a two-month range, the exit from which downward on February 5th turned out to be a false move (support at 1.2610). Therefore, there is a high probability of the price falling at this upper boundary. Only the consolidation of the daily candle above 1.2745 will open up new bullish levels.
On the 4-hour chart, the price has risen above the resistance of the MACD line, and the Marlin oscillator has firmly settled in the growth territory. We’re waiting for progress on the upward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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