The euro did not begin to accumulate strength for a long time before the breakthrough of technical support and it crossed the MACD line of the daily scale last night.
Now the task of the European currency is to consolidate it at the nearest target level of 1.0985 (Fibonacci level of 138.2%) so that the observed price drop below the MACD line does not turn out to be false. Then we are waiting for the price at the target levels 1.0925, 1.0895.
On the four-hour chart, the signal line of the Marlin oscillator came close to the boundary with the territory of the bulls, and with the formation of local convergence, which could trigger a correction to the level of 1.1063, or slightly lower, to the peaks of Monday and Tuesday (1.1045). The MACD line is also approaching these levels, where it can meet the price.
Origin: InstaForex
