Yesterday, the euro tried to attack the support of the nearest line of the price channel. It failed, but this downward movement was reflected in testing the lower band of the Marlin oscillator channel.
The price may try to test the support at 1.0834, but the long lower shadow and oscillator’s test of the channel’s boundary collectively shift further developments towards growth – towards overcoming the nearest resistance at 1.0905 and attempting to break above 1.0946.
On the 4-hour chart, the price turned up from the support of the MACD line (blue moving average). The balance indicator line also provided support. This indicates that the corrective decline may have already come to an end. The signal line of the Marlin oscillator shows an intention to turn upward. Today is a holiday in the United States. The objective is to consolidate above 1.0905.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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