On Monday, the euro failed to close the opening gap. The price did not consolidate below the daily MACD line, and a long lower shadow formed—a sign that the market intends to close the gap in the near future.
The price may rise further without signaling a stronger bullish rally and could reach the key level of 1.1779. A break above this level would open the way toward the upper boundary of the price channel around 1.1910. However, the Marlin oscillator remains unwilling to return to positive territory, which suggests that the potential for a price rally is somewhat limited. As a result, the 1.1910 target may stay out of reach.
On the 4-hour chart, the weakness of the bulls suggests that the price may not break above the MACD resistance line (1.1740) on the first attempt. Likewise, the Marlin oscillator remains in the negative zone and is unlikely to support price growth before the end of the day. We expect the price to increase slowly.
*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 28 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
