Yesterday’s fall of the euro at the moment amounted to 205 points, closing the day -118 points. The price turned into a correction from the nearest local low formed by the January low. On the daily scale, there is a slight probability of price convergence with the Marlin Oscillator, but it may not be, the main movement of the oscillator is developing in the downward red channel.
We are waiting for the development of a correction in the form of a sideways movement of the euro, and then the Marlin signal line will reach the upper limit of its channel, and then the continuation of the downward movement of the price to the target level of 1.1060, and the oscillator to the lower limit of its channel.
On the four-hour chart, there are no reference points for the upper limit of the correction. But at the moment the price is in the area of the November 2022 low, probably, consolidation will be able to take place here.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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