Despite the strong momentum that the euro received on the 10th, the price has not overcome the technical resistance of 1.0360 – a low of June 15, by now it has already returned under the indicator line of the daily scale and is approaching the support of the MACD line (1.0220). The departure of the quote under the MACD line will return the euro to a downward direction in the medium term.
The first target is 1.0150, leaving under it will strengthen the trend. Further the target is 1.0020. The Marlin Oscillator has not yet squandered its growing potential, it will take a day to assess the strength of its reversal. To neutralize the downward momentum, the price will have to do a lot – to go above the resistance level of 1.0360.
The price settled below the MACD line on a four-hour scale, the Marlin Oscillator is kept in the negative area. These circumstances support the bears’ optimism. We are waiting for an attack at 1.0220.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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