The euro continues to consolidate above the level of 1.1140, with the Marlin Oscillator struggling to reverse from the area of weak overbought conditions. A price breakout to 1.1280 as a speculative move before the European Central Bank meeting is still possible, but this could also result in a divergence with the oscillator.
But for now, there is a slightly higher probability of the price moving into the range of 1.1085-1.1140 for a few days, where it can be in a more comfortable state according to the oscillator’s readings.
In the 4-hour chart, the Marlin Oscillator reduces the range of fluctuations, bringing the price to a balanced state. To lessen the bullish sentiment, the price should drop below the MACD line, under the level of 1.1140. If the price remains above 1.1140, the probability of a rise to 1.1280 will increase.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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