Over the past day, the situation in the euro has not changed at all. Even the drawing by the price of a lower shadow on the daily chart of 58 points did not change the technical picture. At the moment, the price is in the same place as yesterday morning. The Marlin Oscillator is moving sideways below the neutral line.
Yesterday, the head of the Cleveland Federal Reserve, Loretta Mester, said that at one of the next meetings of the FOMC, she would immediately raise the rate by 0.5%. The main trend is downward, but within it, the price may still rise to the target level of 1.1121 and above it, to the price channel line to the area of 1.1173.
The price is also in a neutral situation on the four-hour chart. The Marlin Oscillator is staying in the lower half of the chart – in the territory of a downward trend, so the probability of the price attempting to go under the MACD line (1.0960) is higher than the probability of overcoming the target level of 1.1121. Consolidation under 1.0960 opens the target at 1.0820. We follow which direction the price will choose.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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