The euro continues to consolidate in anticipation of today’s Federal Reserve meeting, but this time with one peculiarity – yesterday’s closing occurred at the lower boundary of the 0.9950-1.0020 range, and not at the upper, as in previous days.
As we expected, the resistance of the upper border got the most pressure yesterday. The signal line of the Marlin Oscillator returned to negative territory, now the market is ready for the Fed to raise the rate. Movement targets: 0.9850, 0.9752.
On the four-hour chart, just like on the daily chart, the price turned down from the point where the target level coincides with the MACD line. The balance indicator line was also there at that moment. The Marlin Oscillator, as on the higher scale, returned to the downward trend zone. When the price overcomes the lower border of consolidation at 0.9950, the nearest target at 0.9850 opens.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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