Yesterday, the euro attacked the MACD line for the sixth time on the daily chart and closed the day with a black candle at 41 points. Taking into account that this candle turned out to be the largest for this week of consolidation, there is a possibility that the price consolidation below the price channel line is already happening – today.
The signal line of the Marlin oscillator was able to enter the zone of negative numbers.
On a four-hour chart, the price stopped on the MACD line, trying to gain a foothold below it. The Marlin oscillator is in a falling position in the negative zone. The nearest goal of 1.1155 is likely to be overcome today. After consolidating the price below the level, we expect a further decline to 1.1074 – the Fibonacci level of 123.6%.
Origin: InstaForex
