In the past day, the euro has experienced slight upward movement, as indicated by its technical indicators. If the signal line of the Marlin oscillator crosses into positive territory, it will disrupt the current triangle formation.
This may happen when the price goes above the level of 1.0350. But it is unlikely that currency players will undertake such a risky operation on the eve of the US presidential inauguration, especially since the price is facing strong resistances right behind the level on the daily and weekly scales. We believe that the price will continue its sideways movement today and on Monday.
On the four-hour chart, the price has once again rebounded from the support of the MACD line, while the Marlin oscillator is moving sideways with a slight upward bias. The sideways movement is likely to continue within the 1.0261 (yesterday’s low) to 1.0350 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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