Yesterday’s Monday proved to be volatile, but speculators’ interest in risk persisted; the S&P 500 gained 1.41%, the dollar index retreated by -0.15%, and the euro added 8 points against this backdrop.
On the daily chart, the euro is trying to rise this morning, staying above the balance indicator line (red). The Marlin oscillator is rising, but the low slope of the line warns of a possible decline, possibly even down to 1.0825, where the MACD indicator line is approaching.
On the 4-hour chart, Marlin is already in the positive territory. Yesterday’s attempt to break above the balance line was either unsuccessful or just a test, in order to break above it and establish itself today. According to the main scenario, we expect an uptrend. The first signal will be surpassing yesterday’s high at 1.0979.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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