The potential for growth in the euro and other currencies is diminishing with each passing day. Yesterday, the Dow Jones fell by 0.43%, oil decreased by 0.17%, and Bitcoin dropped by 5.04%. The euro once again failed to reach the technical resistance level of 1.0534.
A double divergence has now formed on the daily chart. If the price breaks below the support level of 1.0458, a decline toward 1.0350 is expected. This could indicate the beginning of a medium-term downtrend, with the price potentially falling below 1.0135.
On the H4 chart, the Marlin oscillator has entered negative territory this morning. The final step for a bearish outlook is for the price to break through the 1.0458 support level, which is reinforced by the MACD line. A bearish scenario for the euro is becoming the primary expectation.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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