On Tuesday, there were failures, relative to expectations, indicators of business sentiment in the euro area. The ZEW Institute determined Germany's economic sentiment in May as a -2.1 point against the forecast of 5.1, and for the eurozone as a whole at -1.6 against the expectation of 5.0. Industrial production in the euro area fell by an expected -0.3% in March. US President Donald Trump kept a good face on a bad game in the matter of trade negotiations with China, once again announcing that there would be a good deal in a few weeks. As a result, the euro lost 18 points, overcoming the support of the MACD line of the daily scale. The signal line of the marlin oscillator is currently trying to push the boundary with bearish territory.
On the four-hour chart, the marlin oscillator is already in the negative zone, there are several points left to overcome the price of supporting the MACD line, and then a direct road opens to the Fibonacci level 110.0% (1.1155), then, with a slight correction from the level or on the move, the movement to the Fibonacci level of 123.6% on the price of 1.1075.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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