As the market cooled down after an exciting Tuesday, the euro spent Wednesday in consolidation between the target levels of 1.0032 and 0.9950. The price did not even try to fight the resistance, which was also strengthened by the MACD indicator line of the daily scale.
The signal line of the Marlin Oscillator turned down without an attempt to work out the border with the growth territory. This is a good sign of a further decline, which will be confirmed after the price breaks below the 0.9950 support. The nearest target is 0.9850, followed by 0.9752.
The price consolidated under the MACD indicator line and balance lines (red) on the four-hour chart. Marlin shows intention to continue the decline after yesterday’s own consolidation. The situation is completely downward.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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