Stay 
Trading Conditions
Products
Tools
EUR/USD
Yesterday, the euro's 58-pip decline, which reversed the single currency's gains from the Federal Reserve meeting on Wednesday, was quite surprising. The price returned to the area below the level of 1.0905, below the MACD line, and the Marlin oscillator once again approached the zero line.
However, just like the past two weeks, all these movements occurred above the balance indicator line, which tells us about fluctuations within the buyer's influence. There is a good chance that the price will return above the 1.0905 level and resume growth towards the target range of 1.1001/10. At the same time, there's also a good chance of forming a technical divergence, after which we expect a significant reversal into a medium-term decline.
On the 4-hour chart, the signal line of the Marlin oscillator, after quickly dropping below the zero line, has already returned to the positive territory. Also, the price is trying to climb back above the balance indicator line. Of course, it is difficult for the price to rise from the current positions, but yesterday's decline shows that it isn't in a hurry to implement a confusing plan. And so we wait.
A drop below the March 19 low of 1.0835 could be a sign that buyers have abandoned their plans and repositioned trades aiming for 1.0724.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
