The euro decided to stay in the 1.0595-1.0645 range for the fourth day. The previous target range of 1.0615/42 has been expanded. On the daily chart, the Marlin oscillator doesn’t dare to move into the area of the downtrend, it is declining slowly.
There is a high probability that with the price crossing the lower limit of the range at 1.0595, the Marlin will also be in negative territory. In this case, the downtrend will get the momentum it needs. The first target is 1.0470.
On the four-hour chart, the price can settle in the 1.0595-1.0645 range once the oscillator develops in the negative territory. This is a sign of interest in the entire movement and developing the momentum that occurred on December 15-16. The MACD line is a support for the flat. Moving past 1.0595 will mean the price has crossed this support.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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