Yesterday, the euro rose by 58 points, having overcome the nearest target level of 1.1060, now this level becomes a support in the implementation of the plan for further price growth towards the target of 1.1195 – to the area where the MACD indicator line coincides with the Fibonacci channel line on the daily chart.
The signal line of the Marlin Oscillator is making its first steps in the bulls’ territory. If we do not see a continued rise in the price during the day, then the oscillator may turn down from the zero line and take the price into consolidation above the level of 1.1060.
On the four-hour chart, the price has confidently settled above the level of 1.1060, Marlin is growing in the positive area, the 1.1195 target is waiting to meet the price. But today is Friday, so speculators can close positions to take profits, which will slow down growth and turn it into sideways consolidation, which is warned by the slowdown of 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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