On Friday, after a slight break of the upper shadow of the target level of 1.2745, the price settled below the balance indicator line. In anticipation of the Federal Reserve and Bank of England meetings, this can hardly be considered as a signal that the price intends to reach the target support at 1.2610.
Most likely, this confirms the market’s inability to push through 1.2745, and therefore, we expect the continuation of sideways movement until Wednesday, which is when the Fed announces its decision. The Marlin oscillator, whose signal line is moving horizontally under the zero line, also tells us about it.
On the 4-hour chart, the price is stuck at the intersection of the balance and MACD indicator lines, and the signal line of the Marlin oscillator is moving within the range around the zero line. The price is clearly in waiting mode, and so are we. The pair is following a bullish scenario, with the upper boundary of the price channel targeted around the 1.2878 mark (daily).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
