On Wednesday, the EUR/USD pair tested the resistance level of 1.0910 from below for the last time and fell, closing the day with a black candlestick of 25 points. Now the price is approaching the first support level on the daily chart at 1.0820 – to the MACD indicator line.
Surpassing this line will pave the way for the price to reach the target range of 1.0789-1.0804. Trading in this range will mean that the price is ready for a medium-term decline (target 1.0662).
The Marlin oscillator is slowly falling, which, on the one hand, is good for a medium-term bearish perspective, because there will be a deep margin, but on the other hand, it is bad for this trend because the oscillator can turn into an upward correction from the zero line at the time when the price either touches the indicator line or the price range.
On the four-hour chart, the trend is entirely downward with no signs of reversal; the price is falling under both indicator lines, both these indicator lines are directed downwards, the Marlin oscillator is directed downwards in the downtrend territory.
*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, o 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
