Yesterday, the EUR/USD pair made a desperate attempt to overcome the resistance of the MACD indicator line on the daily chart. The attempt failed thanks to strong data on new jobs in the private sector from ADP, which showed an increase of 807,000 in December against the forecast of 405,000. Who have already shown their determination to defend their interests. The target for the euro remains the same – 1.1170.
On the four-hour chart, the price went above the MACD line with consolidation, but now it is trying to return back under it, and then yesterday’s price exit above this line will be interpreted as false, which in turn will create an independent and additional signal for a further price decline. Such a signal will be confirmed when the price moves below the nearest low of 1.1302. The Marlin Oscillator is already introducing itself into the negative area, helping the price return under the MACD line.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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