On Tuesday, the euro firmly consolidated above the daily-scale balance line indicator, closed the day above the resistance level of 1.1266, and began today with an upward move.
Now, the bulls are aiming for the 1.1420 level. The Marlin oscillator will soon enter positive territory, join the upward movement, and support a breakout above 1.1420. We then expect continued growth toward 1.1535 and 1.1692.
The price has already consolidated above the 1.1266 level on the four-hour chart. We also see the MACD line turning upward, which signals the confirmation of a short-term uptrend. The Marlin oscillator is also gaining momentum. We are now waiting for the price to reach the first target, 1.1420.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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