The euro spent Monday settled above the technical support of 1.0150, continuing the tradition of the last three sessions. The signal line of the Marlin Oscillator on the daily timeframe has touched the zero neutral line, a transition above it will be a sign of a developing upward trend.
But the trend may turn out to be weak, so we don’t really expect the euro to rise above the resistance of 1.0360. Perhaps the growth will be stopped by the MACD line (1.0302). Marlin in this case may show a false exit to the positive area.
It is quite possible that the price and the Marlin Oscillator will reverse from the current levels. We just have to wait for the price to turn down. It is not advisable to buy in this situation, since promising growth is possible only after the price goes above the strong level of 1.0360.
The price is rising above the balance and MACD lines on the four-hour chart. The Marlin Oscillator is still in a downward position, but is not averse to moving into a growth area. Overcoming yesterday’s high (1.0258) will be the first sign of the price’s intention to reach the MACD line of the daily scale (1.0302).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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