Yesterday, the euro closed a 36-pip gap and even slightly surpassed last week’s high. It closed the day below the indicator balance line. The Marlin oscillator showed an intention to turn downwards. The pair is prepared to start a reversal.
We can confirm this using a break below the support level of 1.0788 (the May 30 low). The first target of the movement will be the 1.0724 level. After that, we will wait for the price to reach the target range of 1.0636/50. If the price climbs above yesterday’s high, an alternative scenario with an attempt to reach 1.0905 will unfold.
On the 4-hour chart, the divergence has come into play. Due to its broken structure, there is a possibility that the price might linger at the highs of the last couple of days. During this time, the MACD line might reach the 1.0788 level and reinforce it. Surpassing this level will accelerate the downward movement.
*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 28 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
