EUR / USD pair

On Wednesday, the price exactly worked out the resistance of the MACD trend indicator line on a daily scale and broke the levels on the price channel line as expected. However, the price could not go higher and divergence with the Marlin oscillator began to form on the four-hour timeframe, but for the time being, it is very short. In the case of resumption of growth, divergence can be transformed, and become more pronounced. Thus, the target remains to be 1.1407.

However, the likelihood of a downward reversal from current levels has increased. The first sign of the strengthening of such a scenario will be the departure of the price below the MACD line at 1.1315 on the four-hour chart. Fixing under the signal level of 1.1290 will push the scenario to be executed and then the target will be 1.1215, which was the minimum on November 13 last year.