S&P500 decreased by 0.38%, while the dollar index declined by 0.20%, thanks to a slight increase in government bond yields. Investors also expressed some confusion over the lack of agreements in Congress on the budget, which could lead to another partial government shutdown (starting from March 1). If the shutdown occurs, it will not necessarily lead to an automatic decline in dollar. Most likely, it will strengthen in the medium term as a safe-haven currency amid the decline in stock markets.
On the daily chart, yesterday’s rise in euro halted because of the balance line. The signal line of the Marlin oscillator also turned downward slightly. If the price settles below 1.0825, the pair will move towards 1.0724.
EUR/USD faces obstacles not only from the indicator lines but also from the target level of 1.0905. It needs to successfully surpass the level to continue the movement towards the target level of 1.1001 (peak on January 11).
On the four-hour chart, the Marlin oscillator continues to experience pressure and may soon shift downward. However, the price remains above the indicator lines, so the pair may not decline yet. A downward move will occur only when the price settles below the support at 1.0825 and falls under the MACD line support at 1.0806, which coincides with the peak from February 12.
*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, to 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
