The euro continues to decline in the medium or even long-term perspective. Currently, the price has confirmed its position below the embedded line of the descending price channel and has broken through the support level of 1.0736.
There is a small and weak convergence between the price and the Marlin oscillator, which maintains the possibility of forming either a correction or consolidation near the nearest resistance levels. In this state, the market will be waiting for a decision from the US authorities regarding the national debt. Later on, we may see the pair move towards the target of 1.0625, with the following target at 1.0497.
On the four-hour chart, the double convergence may finally break (the break occurred yesterday). However, as long as it exists, there is a possibility of a correction towards the MACD line around the 1.0770 mark. We currently have a downtrend.
*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 25 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
