The euro rose 45 pips on Monday, breaking through the resistance level of 1.0660. The signal line of the Marlin oscillator tries to move into the area of the uptrend. Yesterday, I mentioned a possible false breakout above the target level, and right now there are conditions for the price to fall below 1.0660, first of all, it is a possible reversal of the Marlin from the zero line to the downside.
If these don’t stop the euro’s correction, it could result in a target range of 1.0758/87. On the four-hour chart, the price forming a divergence with the oscillator also indicates the probable end of the correction. This will be confirmed once the price settles below 1.0660.
We can only talk about bringing back the downward movement in the medium-term once the price breaks through the MACD line and the support level of 1.0595. However, the price is not in a hurry, because the US employment data will be released on Friday.
*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
