Yesterday’s trading range for the euro was 51 points. With its upper shadow, the price tried to reach the resistance of the MACD line, while it ended the day under the balance indicator line with a black candle. Now the price has actually settled below both indicator lines.
The Marlin Oscillator approached the zero line and is preparing to move into the negative zone. When it does this, the price will be completely in a downward position. The target of the movement is 1.1170. Overcoming the level opens the second target at 1.1050.
The price also tried to rise above the MACD line on the four-hour chart; it succeeded, but for a very short time. At the same time, another signal has appeared for the bears – a price reversal to the downside after an unsuccessful attack on resistance. The Marlin Oscillator is in negative territory, the general trend is downward.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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