The euro grew by 30 points on Friday and this was consolidated above the MACD line of the daily scale. Therefore, correctional growth may continue. But growth looks limited at the moment, and the line of the falling price channel and the boundary with the growth territory (0.00) according to the Marlin indicator act as restraints. Only with price consolidation above the price channel line (1.1093) is it possible to continue growth to the first upward target at the Fibonacci level of 110.0% at the price of 1.1155. At the moment, the correction is more likely to complete in the range of 1.1073/93.
On a four-hour chart, the Marlin oscillator is in a growing position, the price is above the balance lines (red) and the MACD line (blue). We are waiting for the completion of correction in the range of 1.1073/93.
Origin: InstaForex
