The euro has been declining for the third consecutive day, starting from Friday’s drop, as it seeks support for consolidation or correction. During this correction, a pullback could extend down to 1.0667.
This image is no longer relevant If the price chooses to stabilize until the Federal Reserve meeting on March 19, it is unlikely to fall below 1.0762. Overall, the uptrend does not seem to be finished, and we anticipate that the high from March 11 will be surpassed. The decline of the Marlin oscillator appears more as a cooldown from the overbought zone rather than a sign of reversal, suggesting further growth ahead.
On the four-hour chart, the MACD line is approaching the price. If the price breaks below this line, which coincides with yesterday’s low of 1.0823, it could lead to an extension of the decline towards 1.0762, marking the lower boundary of the expected 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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