Against the backdrop of yesterday’s expectations for today’s consumer price data, the euro fell by 44 points, as the forecast for the overall CPI represents a CPI unchanged from March at 5.0% YoY, and the core with a slight decrease to 5.5% YoY from March’s 5.6% YoY. And if the forecast comes true, market participants will be more confident in their belief that the Fed will keep their monetary policy unchanged.
On the weekly chart, the divergence is intensifying. And if reversals are not created on smaller charts, a potential rally to 1.1110 or higher is unlikely.
On the daily chart, yesterday’s growth was interrupted by the balance indicator line, and this morning a correction is taking place; we will consider its potential on the four-hour chart. On the daily chart, the price is striving for the target of 1.0910 – to the embedded price channel line of the monthly chart.
On the four-hour chart, the price has settled below both indicator lines, and the Marlin oscillator is discharging in the negative area. The correction may continue to the MACD line, around the 1.1007 mark. If yesterday’s low of 1.0942 is surpassed, the price will make its first attempt to break through 1.0910.
*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
