The euro lost a little less than 50 points yesterday. At the moment, the price still has 40 points until it reaches the target level of 1.1170, the Marlin Oscillator has been forming a "double bottom" pattern, not very reliable and not pronounced, but a reversal figure over the last 4 bars. At least within the next two to three days. Until the European Central Bank meeting next week, the euro may make unpredictable movements.
On the four-hour scale chart, the convergence of the price with the oscillator has changed to a less steep one, this creates a condition for price correction from the current levels to the range of 1.1262 (MACD's line) - 1.1300.
The material has been provided by InstaForex Company - www.instaforex.com