On Monday, the euro slightly rose, adding 11 points, probably due to an increase in oil by 2.60% on the US statement about a total ban on buying Iranian oil. In response, Iran threatened to block the Strait of Hormuz. Given the increasing tension in Libya, where a full-fledged war is taking place, the dollar may again continue to strengthen.
Technically, the euro's growth was stopped on the balance line of the daily scale, when the signal line of the marlin oscillator touched the boundary with the growth area. Also on the four-hour chart, the marlin line touched the border with the growth zone, which can lead to a market reversal due to a combination of factors.
So, we are waiting for the euro to move to the previously defined target of 1.1155.
The material has been provided by InstaForex Company - www.instaforex.com