After fluctuating for some time, the euro rose on Friday, gaining more than 60 pips. It reached the target level of 1.0905. The signal line of the Marlin oscillator is turning upward towards the upper band of the ascending channel.
There is a high probability of a synchronous downward reversal of the Marlin oscillator from both the channel’s boundary and the price from any target level (1.0946, 1.0977). Today, the price has been falling, so the pair can only show a stable upward movement if the price returns above 1.0905.
On the 4-hour chart, the price is rising, slightly pausing at 1.0905. But the potential divergence, when it forms, will indicate a more significant corrective decline.
Once the correction ends, we expect the price to continue rising towards the level of 1.1096, considering the intermediate resistances at 1.0935/46, 1.0977, 1.1033.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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