The euro fell by 147 points on Friday. The price has overcome the important target level of 0.9752, having worked out the nearest target below it (0.9692). The 0.9752 target was set by the embedded line of the global hyperchannel of the monthly timeframe, the channel started on the July 2008 high.
Now the price is heading towards the medium-term target along the embedded line of this channel to the area of 0.8960. We are waiting for the price here within a month.
The price has set targets on the daily chart: 0.9625, 0.9520. The Marlin Oscillator is going down, the distance to the oversold zone is still significant.
The rate of decline of the oscillator is slowing down on the four-hour chart. Probably, from the nearest support (0.9625) there will be a correction (back to 0.9692), then the decline will continue with renewed vigor.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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