On Thursday, for the fourth time since Monday, the pair attempted to rise but were pushed back down. This time, the pressure was stronger, with the lower shadow piercing both indicator lines. The Marlin oscillator has moved into negative territory.
For the target level of 1.1605 to open, the price must consolidate below the MACD line (1.1700). Even if today’s daily candle closes under it, such confirmation won’t come until later. Despite mounting pressure on the euro, an upward move remains possible, as the price is still technically above the indicator lines. Sideways movement and uncertainty continue.
On the H4 chart, the price continues to fluctuate between the daily and H4 MACD lines at 1.1700/58. A breakout above the upper line would open prospects for growth toward 1.1914, while a consolidation below 1.1700 (on H4) would open the path to 1.1605.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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