Yesterday, the euro withstood the strong resistance of the MACD indicator line and the descending line of the price channel on a monthly scale. The day’s high touched the trend line, and today, from the opening of the session, the price went above it. Now the course is to close the gap, to the Fibonacci reaction level of 161.8, to the target level of 1.1315. The Marlin Oscillator continues to grow in the positive area.
The signal line of the Marlin Oscillator has formed a rising wedge on the four-hour chart. From the wedge, a breakthrough is possible both up, into the overbought zone, and down. The current situation tends to move up more.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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