On Monday, the euro rose by 85 pips and reached the lower limit of the 1.0758-1.0787 target range. The price has met the minimum requirement for forming a new divergence with the Marlin oscillator.
However, there are no strong fundamental prerequisites for the dollar’s strengthening (investors have become immune to political factors). The dollar will probably show an intention to rise on Thursday, seeing as the US inflation report will be released on this day. Until then, the pair might get used to the range and the divergence might become more evident.
It is formally rising on the four-hour chart – the price and the oscillator are going up. As range trading involves increased risk, it would be wise to wait for more stable signals: for buying – climbing above 1.0787 (high on May 30), for selling – to return under 1.0660, or even slightly lower – under Monday’s low (1.0639).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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