On Monday, the price closed the morning gap and confirmed a daily candle close below the MACD line, reinforcing the primary scenario of a move toward the 1.0135 support level. The Marlin oscillator continues to decline within the downtrend zone.
Today, Fed Chair Jerome Powell will speak before the House of Representatives, followed by an address to the Senate tomorrow. His remarks are expected to include an assessment of current inflation and potential hints regarding monetary policy. Powell’s speech is particularly significant as he already has access to January inflation data, which will be officially released tomorrow.
On the four-hour chart, the situation remains unchanged over the past day. The price continues to decline below the balance indicator line, while the Marlin oscillator is attempting to extend its downward movement within the bearish zone.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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