Over the past day, the price of the single European currency has outlined a tendency to move away from the MACD indicator line on the daily scale chart.
The price does not dare to test the strength of the resistance formed by the merger of two indicator lines – the balance line and the MACD line (1.1345). The signal line of the Marlin Oscillator returns to the range of December 8-21, marked on the oscillator chart with a gray rectangle. The price probably decided to choose the path of less resistance and headed towards the first bearish target of 1.1170. The probability of surpassing the area above the resistance level of 1.1345 has become noticeably lower.
On the four-hour chart, the price returned under the MACD line and managed to settle below it. The price also crossed the balance indicator line. The Marlin Oscillator is in a downward trend zone. The descending scenario becomes the main one.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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