Yesterday, the pair opened and closed above the 1.0865 level – the price has consolidated above this mark, and this morning, the euro is rising, with the 1.0924 target nearby. Overcoming it will allow the price to make a little more effort so it can reach the MACD line (1.0924), close to the Fibonacci level of 23.6%.
Consolidation above the MACD line opens higher targets: 1.1012 (38.2%) and 1.1062 (50.0%). On the four-hour chart, the price has consolidated above the MACD line and is struggling with the balance line.
The price moving above the balance line shifts the traders’ interest towards long positions. The Marlin oscillator is growing in the positive area. Ahead lies the challenging target range of 1.0924/42.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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