The euro has consolidated above the daily-scale balance indicator line and is slowly continuing its rise toward the MACD line at 1.1770. The Marlin oscillator has entered positive territory and is currently supporting this moderately optimistic sentiment.
However, tomorrow the intrigue begins: the price will reach the 8th Fibonacci reversal line, and in Alaska, the presidents of the US and Russia will meet. This means all the moderate optimism seen in the euro could turn out to be a false move. The main movement is expected to occur on Monday. In the short term, the price may even reach the upper boundary of the price channel near 1.1863, but this would not change our main reversal scenario. A consolidation of the price below 1.1632 would open the way to the target at 1.1495.
On the four-hour scale, the Marlin oscillator’s signal line has been moving exactly along the zero neutral line for the past day and a half. The indicator is sensing the gravity of the moment. We await further developments.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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