On Monday, the euro did not develop a downward movement, preferring a consolidation near Friday’s high. The price has consolidated above the balance and MACD lines on the four-hour chart, the signal line of the marlin oscillator on the same scale from the border with the decline territory is turning up. The price, like yesterday, has an alternative in the form of moderate growth, but for this it needs to go over the important resistance of 1.1216 – the point of coincidence of the Fibonacci level of 100.0% on the daily chart with the MACD line. Success can translate into growth towards highs of May 1 and April 22 at the level of 1.1265. Failure to overcome resistance can return the price below the MACD line of the four-hour scale (1.1185) and extend the decline to the Fibonacci level 110.0% at a price of 1.1155. Here the downward turn of the daily-scale marlin oscillator from the zero line can also play its role. The likelihood of both scenarios in this situation is equally possible.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD
On Monday, the euro did not develop a downward movement, preferring a consolidation near Friday’s high. The price has consolidated above the balance and MACD lines on the four-hour chart, the signal line of the marlin oscillator on the same scale from the border with the decline territory is turning up. The price, like yesterday, has an alternative in the form of moderate growth, but for this it needs to go over the important resistance of 1.1216 – the point of coincidence of the Fibonacci level of 100.0% on the daily chart with the MACD line. Success can translate into growth towards highs of May 1 and April 22 at the level of 1.1265. Failure to overcome resistance can return the price below the MACD line of the four-hour scale (1.1185) and extend the decline to the Fibonacci level 110.0% at a price of 1.1155. Here the downward turn of the daily-scale marlin oscillator from the zero line can also play its role. The likelihood of both scenarios in this situation is equally possible.
The material has been provided by InstaForex Company – www.instaforex.com
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