Yesterday, the euro traded in a wide range at the support of 1.0020. As a result, the day ended with a white candle of 20 points. This morning the white candle is already covered by the black one, the price is trying to consolidate under the target level of 1.0020. Consolidating below the level opens new bearish targets: 0.9950 and 0.9850.
The signal line of the Marlin Oscillator is developing in its own descending channel on a daily scale. Now there is a slight rebound of the signal line from the lower border of the channel and the prospect of further decline is not great. With the price reaching 0.9850, a deep correction is likely, about three figures.
Yesterday’s range did not come out of the downward trend on the four-hour chart – the upper shadow was limited by the balance indicator line. The Marlin Oscillator briefly went into the positive area, now it is falling again in the negative area. There is room to move down.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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