Yesterday, the euro rested a bit at the target level of 0.9950, having made daily trade with a range of 60 points. The resistance was the 1.0020 target level. At the moment, the price is trying to go under the level of 0.9950. The bears’ nearest target is 0.9850. A deep or protracted correction with the formation of convergence is possible from this level.
Today we expect optimistic data from the US. The volume of orders for durable goods in July is expected to increase by 0.6%, the volume of orders for capital goods may increase by 0.3%.
On the four-hour chart, the downward trend continues without the Marlin Oscillator entering the positive area. Today the price will try once again to consolidate under the level of 0.9950 and continue moving down.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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