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EUR/USD
The euro rose by 52 points on Thursday due to the conclusion of a government deal on Brexit EU-UK. The British Parliament will vote on the deal on Saturday. The United States showed weak economic indicators: 1.26 million y/y were laid in September against new forecasts of 1.32 million y/y, industrial production fell by 0.4% in September, while expectations were -0.1%, production load capacities at the same time decreased from 77.9% to 77.5%.
The price broke the upper limit of the range of uncertainty at 1.1030-1.1125, but did it in an ambiguous manner - without consolidating above it and without turning down. The leading indicator Marlin does not give clear signals in this situation. False growth may continue to the Fibonacci level of 110.0% (1.1155), and then return to the price channel line (1.1125). Overcoming 1.1155 opens the upper target 1.1215 - Fibonacci 100.0% (last November low).
On a four-hour chart, a turn from 1.1125 also does not show indicators; the decline in the Marlin signal line is still not deep enough. It is possible to continue the growth and possibly a corrective decline. Two main goals are identified for correction: 1.1074 - the Fibonacci level of 123.6% and 1.1030 - the MACD line of the daily scale.
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