Yesterday, the euro was up 0.49%, while the S&P 500 dropped 0.58%, gold fell 1.04%, and yields on US government bonds decreased. Even Israel’s statement about a pending “retaliatory” strike against Iran did not dampen such a risky rise in the euro.
We believe that the euro has used up all its strength. The single currency rose above the range of 1.0636/56, but it may return to this mark by today as representatives of the FOMC will speak in the evening (officials are not expected to show a dovish stance) and the Unemployment Claims data will also be released. Another drop below the lower boundary of the range at 1.0636 will open up the target of 1.0567.
On the 4-hour chart, the Marlin oscillator has entered the positive territory. The sharp rise is caused by the price breaking above strong technical resistance. The MACD indicator line marks the limit of the corrective movement, which is around the level of 1.0700. It may not reach the MACD line as the price’s growth above the range and the oscillator’s rise above the zero line seems to be a false move.
*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 25 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
