Yesterday, the currency market took a bit of a breather after Tuesday’s big drop. Today, the market is preparing for Friday’s U.S. jobs report. Such preparation might be in the form of an ongoing sideways price movement, or with some loss of positions against the dollar, as the US stock market closed mixed yesterday and the yields on the government bonds are slightly rising in the Asian session.
There are no changes on the daily chart, the price is still moving towards the target range of 1.0443/70. The Marlin oscillator is directed upward, but now it looks like its natural correction before it falls further.
The situation on the four-hour chart repeats the technical picture of the daily chart. The price develops under both indicator lines, the MACD line turns downward, the Marlin oscillator discharges before falling further.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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