The euro showed a strong growth on Monday – a rise in the moment by 154 points, closing the day by 80 points. The target level of 1.0150 was pierced, the closing of the day occurred under the level where the price is now.
The signal line of the Marlin Oscillator is starting to turn down, perhaps this is the beginning of the price reversal into a new wave of medium-term decline, because the opening gap of the week is still not closed (the nearest target is 1.0020). Consolidating above 1.0150 will formally open the target of 1.0360, but this range is very tight, it was formed in the period from July 19 to August 17, so a downward reversal can happen without reaching the target of 1.0360.
The price settled below 1.0150 on the four-hour chart, yesterday’s exit above this level in this situation can be interpreted as false, until it settles above the level. The Marlin Oscillator is declining. According to the main scenario, we are waiting for the closing of yesterday’s gap, the development of support at 1.0020. Consolidating below the level will open the target at 0.9950 (14 July low).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
