Euro surpassed the upper boundary of the price channel (green) that began in May 2021. The ascending channel (blue) now replaces it.
Currently, euro has the potential for further growth within the range of the one-and-a-half-month consolidation in November-December 2021, between 1.1280 and 1.1385. This range aligns with the nearest embedded line of the blue price channel.
Additionally, the lower boundary of this range coincides with the peak from July, so the nearest target level of 1.1185 automatically becomes an intermediate level. The Marlin oscillator turned upward and showed clear signals for further growth.
On the four-hour chart, the consolidation of the Marlin oscillator above zero increased both the price and the indicator itself. Now, the pair trades above 1.1076. The indicator will likely continue its upward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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