Unfortunately, high-range fluctuations in currencies did not stop. Yesterday, the euro traded in a range of 180 points (the pound in a range of 350 points), closing the day with an increase of 81 points. This morning it reached the 0.9850 target. The technical situation has become even more complicated.
Now the price may continue rising to a stronger level at 0.9950, strengthened by the MACD indicator line, or reverse from the current levels to the nearest support of 0.9752 and further to 0.9695. The Marlin Oscillator of the daily scale does not provide any hints on this account, it can turn around now, without reaching the zero line, it can turn around directly from it, which will mean the price will work out the resistance at 0.9950.
The four-hour chart does not clarify the situation. Formally, the trend is upward, as the price has settled above the balance and MACD indicator lines, but Marlin is turning down, the price exit above the indicator lines may turn out to be false. Consolidating under 0.9752 will most likely mean the end of the correction. Next, we are waiting for the price to drop to the levels: 0.9695, 0.9625, 0.9520.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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