Yesterday, the euro did not have time to close the gap formed since the opening of the new week. To do this, the price needs to grow by about 70 more points, just in time for the target level of 1.1280 and the MACD line of the daily scale. The signal line of the Marlin Oscillator still remains within the descending native channel, which creates the possibility of a decline either before further growth to close the gap, or to a deeper decline, for example, to the target level of 1.1060, after which we can expect the euro to rise.
The emerging price convergence with Marlin will take on a different look. Investors are no longer so optimistic about the prospects for the dollar, as due to the growth of geopolitical tensions, the Fed rate on March 16 may be kept unchanged. Another option is to close the gap in the next day or two and the price will continue to wander around current levels until the Federal Reserve’s decision is awaited. But even before the Fed’s meeting this Friday, US employment data is coming out, which is forecast to reduce unemployment from 4.0% to 3.9%. In other words, trading in the coming days is fraught with the risk of uncertainty.
The price is generally in a downward position on the four-hour chart, but if investors are waiting, then the indicators will soon weaken and the price will be free to move lines.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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