The euro grew by 48 points on Monday, meeting the balance indicator line on the daily chart. At the moment, the price is struggling with this indicator line, this is important for shifting the market balance towards long positions, and the Marlin oscillator, which has already moved into the growth zone, helps it. But there is a negative point - the pattern indicated on the chart by a gray oval may repeat itself - a decline after an attack on the balance line when Marlin enters the growth zone. In this case, the low on the 20th can be updated.
It has settled above the MACD line on the four-hour chart, but is also struggling with the balance line. Marlin is in the zone of an upward trend, and on this timeframe, the advantage is in an upward scenario. This scenario will be relevant until the price moves below the MACD line, below 1.1718. Consolidating above the target level of 1.1760 will breathe new strength into the bulls, the target will be the daily MACD line at the level of 1.1847 - the low on June 21.
The material has been provided by InstaForex Company - www.instaforex.com