Yesterday, the euro fell by 74 points, reaching the initial goal of 1.1155 - the Fibonacci level of 110.0%. The convergence of prices with the marlin oscillator on the H4 chart is currently not pronounced, indicating a possible continuation of the downward movement. The next target is the Fibonacci level of 123.6% at a price of 1.1075.
The euro's fall was partly due to the decline in the index of business sentiment in Germany in April from 99.7 to 99.2. Today, there are data on durable goods orders in the US for March, the forecast for which is 0.7% versus -1.6% in February, but since the euro's significant decline happened yesterday, investors can wait a bit for the main indicators of US GDP for the 1st quarter, which will be published tomorrow. That is, today we will observe a sideways trend amid a test of the weak convergence on H4.
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