Yesterday, the euro consolidated under the MACD indicator line on the daily chart. It nearly closed the day at the opening level, but the shadows worked out the target levels of support and resistance. However, the lower shadow did not reach 1.0660, but it is possible to be mistaken in calculating the level. The main thing is that the upper shadow has retested the MACD line, thus meeting the minimum technical requirement for renewing the downtrend, to the next target support at 1.0595.
The signal line of the Marlin oscillator is reversing upward, which may be a sign that price will once again return to the 1.0758/87 range. Probably, with an attempt to go above it (a false breakout).
On the four-hour chart, the price rolled back a bit after crossing 1.0758, now it is trying to break through the range again. The ascending Marlin oscillator is helping it in this process. But the oscillator, when it reaches the zero line, will get weaker, so the price, once again feeling the strength of the resistance, will turn down. If Marlin, after all, penetrates into the green zone, the price will climb above 1.0787, and the growth will end at the last line of the bears’ defense at 1.0840, the MACD line.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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