EUR/USD
On Tuesday, the euro worked out an option with a push to the MACD line on the daily chart, but the market is starting to seriously try to move to the target of 1.1175 on the nested price channel line. This scenario will begin to be implemented with the release of prices above the MACD line, that is, above 1.1000. The signal line of the Marlin oscillator has entered the territory of a growing trend.
The price is rising on a four-hour chart, and it is above the balance and MACD line, while Marlin turned up before the division of trends.
The market still has a chance of a price reversal and a medium-term fall in the euro, but for this to happen, the price needs to consolidate under the MACD line, below 1.0890.
Thus, with the price above 1.1000, purchases with a take profit below 1.1175 and stop loss below 1.0950 (under the line of the price channel) can be opened. Sales, in turn, can be opened with withdrawal prices below 1.0890.
The material has been provided by InstaForex Company - www.instaforex.com