The euro’s decline slowed down yesterday, and this immediately affected the Marlin Oscillator, which turned up on a daily scale, which weakened the bears’ support today. Indeed, the closer the price is to the key level of 1.0636, the stronger the resistance, and it can be overcome after the Federal Reserve raises the rate by 0.50%, which will be exactly in two weeks.
In the current situation, the dollar is helped by the fact that the euro has no reasons to grow, so the price will likely continue to slowly slide towards the target range of 1.0636/70.
On the four-hour chart, the price continues its downward development under the balance and MACD indicator lines, the Marlin Oscillator does not leave the negative territory, which together keeps the euro in a slow downward trend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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