The yield on 5-year US government bonds on Friday set another record of the last 15 years. This morning it is consolidating at these values (4.24%), showing the intention to continue growth. European debt securities are also growing in yields, but German debt is noticeably slower (2.10%), while Greek and Italian bonds are alarmingly fast: 4.21% and 3.82%, respectively, which is explained in the media as investor anxiety about the impending debt crisis in the southern countries of the eurozone. And if the euro quote goes under the support level of 0.9724, then the euro will again try to reach the bearish target of 0.9520.
The daily Marlin Oscillator is in negative territory and inclines the euro to such a development of events. The limit of corrective growth is the target level of 0.9855, to which the MACD line is approaching and strengthening it. On the H4 chart, the price is kept from falling by the MACD indicator line.
The Marlin Oscillator in the positive area. But since the recent exit above this line on the 13th was not developed, the probability of the price moving back under it increases, as well as the Marlin Oscillator.
The Eurozone ZEW Economic Sentiment Index for October will be published on Tuesday – forecast -61.2 against -60.7 in September, while US industrial production for September will be released, the forecast for which is 0.1%. The euro’s decline due to the totality of circumstances is considered as the main scenario.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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