The euro begins to be determined with the choice of further movement after the previous six-day growth. On Monday, the support of the MACD line had been tested for strength on the daily chart, today it is broken down in the Asian session.
To fix the decreasing condition, the price needs to go below the price channel line at 1.0967, at the point where this line coincides with the Fibonacci level of 38.2%. Overcoming the support opens the 1.0625 target - the line of the embedded channel, so vividly worked out on March 20-23. The signal line of the Marlin oscillator came close to the boundary with a decreasing trend.
On the four-hour chart, overcoming the price of the first support at 1.0967 opens the intermediate target of 1.0875 - support of the MACD line. A pin below it opens a strategic target at 1.0625. The Marlin oscillator is already in the decline zone.
It opens short positions with the price overcoming 1.0967, s/l above the high of the day (1.1053), t/p in front of the 1.0625 target.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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