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.
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.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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