Yesterday, the euro worked with a rising scenario - it grew to the price level of 1.1309 (a low of January 3), where, having met with the MACD line on the four-hour scale and with the balance line of the daily scale, stopped in anticipation of further actions of investors.
No reversal signals yet. The first sign of a decline could be the price moving below the level of 1.1235, at about this moment the signal line of the Marlin oscillator will move to the negative zone. Consolidating the price above 1.1309 does not create conditions for significant growth, above the level of resistance of the MACD line on the daily scale and the price channel line, around 1.1330. Leaving prices down, this is our main scenario, will lead the euro to the target range of 1.1120/40, which we see on the daily chart.
The material has been provided by InstaForex Company - www.instaforex.com