Yesterday, the euro managed to grow by 0.15% (16 points) against the growth of the dollar index by 0.05%, and this is a fortress of the euro against other currencies from the index. It is probably connected with talks about the European Central Bank’s intention to strengthen the monetary policy, expressed, in particular, at the symposium in Jackson Hole.
However, from the technical side, the euro’s growth still seems to be corrective. The decisive sign of this is the flat rise of the Marlin Oscillator in the last week of this euro advance. If in the next day or two the single currency’s growth does not accelerate, then it may fall by two figures, to the target level of 0.9850. It is possible to work out a more technically significant level of 0.9752 – the price channel line of the monthly timeframe.
The price is consolidating at the level of 1.0020 on the four-hour chart, the signal line of the Marlin Oscillator is also moving sideways. For the steady development of growth, the price needs to overcome the peak on August 26 (1.0088), and there are already the following resistances: 1.0115 is the MACD line of the daily scale, and above 1.0150 is the target level. The euro can hope for continued growth to the level of 1.0360 when it settles above it. To develop a downward movement, the price needs to consolidate below the level of 0.9950, which is approaching the MACD line. Our main scenario is going down.
*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
