EUR / USD

During the profit-taking on Friday, the euro fell below the opening price of the day, stopping at the balance line on the daily chart, losing about 80 points. The signal line of the Marlin Oscillator remains in the growth zone, its end points up and the probability of growth remains. We have had a growth target of 1.1215 for November 12, 2018, where the Fibonacci level is 100.0%.

On the four-hour chart, the correctional decline was stopped at the MACD indicator line. Marlin's signal line penetrated slightly below the zero line, the border which is dividing the growth zone from the decline zone, however, it immediately returned above it.

The growth scenario is natural and consistent, but it has a pitfall in the form of emerging divergence on the Marlin Oscillator on the daily chart. Divergence can be formed later, with the development of the euro's upper goals, or it already did from the current levels.

The first signal for the implementation of such a declining scenario will be a decrease in prices below yesterday's low, which will automatically lead to overcoming its supports. The first goal will be the line of the price channel of the daily TF in the area of 1.1068. Overcoming this support will significantly increase the "bearish" potential and the targets will open at 1.1030 (on daily MACD line) and at 1.0985 with the Fibonacci level of 138.2%. We are waiting for the development of events.

Today, the December PMI on the eurozone and the US will be released. However, survey indicators, may not be able to determine the future direction of the market in such a difficult situation. Although tomorrow, the eurozone trade balance and industrial production in the US will come out where the main impulse might be set on Tuesday.