The euro closed Monday’s session at the opening level below the resistance at 1.1237. This morning, the price rose higher than yesterday’s high and formally opened the target at 1.1320.
Speculative growth of the euro continues, but it will eventually come to an end, maybe today, as the US will release its retail sales report for June, with an optimistic forecast of 0.5% compared to 0.3% in May. The Marlin oscillator does not react to the price increase; it continues to fall. The upward movement may turn out to be deceptive.
On the four-hour chart, Marlin also does not respond to the recent price growth. Yesterday, the pair failed to break through the key level of 1.1205; it retains its role today as well. Overcoming this level will open the next target at 1.1155. Breaking below 1.1155 opens up the key range of 1.1076/96.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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