Yesterday, the euro lost 0.93% of its value against the dollar due to the visit of the Speaker of the US House of Representatives Nancy Pelosi to Taiwan. The euro did not reach the target level of 1.0360, having reversed from the resistance of the MACD indicator line, reaching the nearest support of 1.0150 by this morning.
The price drop below the level of 1.0150 opens the way to the next support at 1.0020. Apparently, the euro’s correction from the level of 0.9950 has ended, the price can overcome this 20-year low and go down to the target level of 0.9850. The signal line of the Marlin Oscillator crossed the zero line from top to bottom, confirming the beginning of the downward potential development.
The price settled below the MACD line on the four-hour chart, the Marlin Oscillator is falling in the downward trend zone. The situation is completely downward, after the price goes under 1.0150, we are waiting for it to reach 1.0020.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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