Yesterday, the euro edged up, with resistance at 1.0724 holding firm, and the price consolidated below this mark on the daily timeframe. The price is falling in today’s Asian session. The Marlin oscillator is turning downwards before reaching the zero line. The EUR/USD pair likely aims to return to the well-established range of 1.0636/56.
The price is still above the indicator lines on the 4-hour chart, but the Marlin oscillator has bounced off the zero line twice and moved downwards, continuing to prompt the price to fall towards the nearest support, in this case, towards the MACD line (1.0675).
Breaking below this line, which coincides with the April 26th low, would naturally allow the price to enter the target range. The primary scenario would only be disrupted once the price consolidates above the level of 1.0724. In this case, the price could set its sights on testing 1.0796, bypassing the intermediate level of 1.0757.
*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
