Yesterday, the euro did not reach the 1.0825 target, hindered by investors’ flight to safety in the broader market; the S&P 500 lost 0.09% (although overall, stock markets closed mixed), and the yield on US government bonds edged down slightly.
Perhaps the single currency will not rise further, say, to 1.10. Currently, the euro is falling within a medium-term descending channel, staying below the balance and MACD indicator lines with a declining Marlin oscillator. If the price hits the nearest target of 1.0724, and consolidates below it, then the euro will continue to fall to the second target of 1.0632 – to the low of September 14, 2023. We expect the pair to continue its downward movement.
On the 4-hour chart, the price has returned below the MACD line but currently feels uncertain there, as the Marlin oscillator has not yet left the growth territory. Perhaps it will do so when the price surpasses yesterday’s low of 1.0757. Today, the US will release figures for its February’s Consumer Price Index (CPI). This is the main agenda of the day, as this may influence the Federal Reserve’s attitude toward monetary policy.
*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, to 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
