S&P500 set a new historical record on Friday. It tested the upper boundary of the global hyperchannel. Divergence has formed with the Marlin oscillator.
There may be a reversal in the index, or at the very least, a correction. At most, the movement will turn into a long-term downward trend, which will happen if the price surpasses the MACD line on the weekly chart, heading in the direction of the February 13 low (4919.80).
The reversal of the stock market signifies the decline of risk appetite, and along with it, the reversal of euro into a medium-term decline. On the daily chart, EUR/USD began to move down from the target level of 1.0825, with the Marlin oscillator also starting to reverse. The nearest target will be the level of 1.0724, the December 8 low.
The pair appears to be heading towards the MACD line (1.0795) on the four-hour chart. The Marlin oscillator, with its transition to the negative area, supports this scenario. If the pair manages to break through the support of the MACD line, euro will move towards 1.0724.
*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
