The euro fell by 81 points on Wednesday, having reached the target level of 1.0170 as the lower shadow of the daily candle. At the moment, the price is above this level and, I think, it will overcome it, since the Marlin Oscillator does not show signs of a reversal, although it has already reached the oversold zone. With the departure of the price under 1.0170, the next target at 1.0020 will open.
The Marlin Oscillator is turning up from the oversold zone on the four-hour chart, correcting in the short-term trend.
Price correction is possible to yesterday’s low 1.0235, after which we are waiting for a new wave of decline, because tomorrow the US Department of Labor publishes data on employment, which is expected to be good according to forecasts (Nonfarm for June 268,000). Consolidating below 1.0170 will encourage the euro to further decline to the next target level of 1.0020.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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