The euro is ahead of schedule, nearing the price channel lines on the weekly chart. A corrective rebound may occur from the red channel line (1.0420) or the green channel line (1.0385).
On the daily chart, the price is approaching the target range of 1.0449/83 (the October 2023 low). Successfully breaking through this range will unlock targets on the weekly chart. The Marlin oscillator on the daily chart is already deep enough to slow the price’s decline but has not yet entered the oversold zone. A battle seems to be shaping up near the target range.
On the four-hour chart, the Marlin oscillator’s wedge has undergone another modification, maintaining the potential for a downward breakout. In the long term, the wedge may evolve into a range—broad sideways movement. For now, we anticipate the price to reach the 1.0449/83 target range.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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