On Monday, the euro gently reached the target level of 1.1420 and then pulled back by 50 pips just as smoothly, closing the day with a white candlestick, carefully maintaining the upward trend. The Marlin oscillator has settled in the growth zone, confirming the price’s upward intention.
A breakout above 1.1420 (which corresponds to yesterday’s high) opens the path to the next target at 1.1535. Beyond that, we expect continued growth toward 1.1692, corresponding to the October 2021 high.
The four-hour chart showed a divergence between the price and the Marlin oscillator. The divergence can be considered fulfilled given the oscillator’s false dip into negative territory (gray rectangle). A confirmed price hold above 1.1420 will signal a new upward wave in the oscillator.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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