Monday passed calmly in the markets, and the main takeaway was the restoration of risk-related correlations. The euro bounced back from the daily MACD line support for the second consecutive day and opened today above the 1.1420 resistance level.
The Marlin oscillator continues its slow ascent. The target at 1.1535 is open, and consolidation above this level will allow further growth toward 1.1692. A consolidation below Monday’s low at 1.1387 would also mean a move below the MACD line, opening the path for a decline toward the target support at 1.1266.
On the H4 chart, the price has already settled above the 1.1420 level, but Marlin’s pressure on the lower boundary of its channel and the border with the downtrend zone is a cause for concern. To relieve this pressure, the price must move quickly toward the MACD line (1.1465) and attempt to break above it.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 28 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
