EUR / USD
On Monday, in the absence of American traders in the market, the euro was trading in a narrow range, bounded below by the MACD line, above the Fibonacci 100.0% on the daily scale chart. Today, in the Asian session, the euro has taken a move in the direction of less resistance, which is, downwards. On the daily chart, the price has made its way under the MACD line, while the Marlin oscillator moves to the zone of negative numbers.
On the four-hour chart, the price is also under the MACD line, while Marlin attacks the border with the territory of "bears".
Thus, we are waiting for the price to decline under the Fibonacci level of 110.0% (1.1155) and further decline to 123.6% at 1.1075.
The material has been provided by InstaForex Company - www.instaforex.com