The euro found support from the balance line on the daily chart, which is down 37 points during yesterday’s decline. On the other hand, oscillator divergence Marlin is gaining strength. Price strives for its first target, 1.1060, to the nested line of the downward blue price channel.
Now, breaking through support opens consistent downward goals: 1.1025 – on the MACD line, 1.0985 – Fibonacci level of 128.2% and other more “bearish” goals.
On the four-hour chart, the price has gone below both indicator lines – the balance line (red) and the MACD line (blue). Meanwhile, the Marlin Oscillator in the zone of negative numbers is in a downward trend.
Origin: InstaForex
