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On Friday, the euro reached its target resistance at 1.0590. However, during the Asian session, it erased Friday's gains and dropped to Thursday's low. The Marlin oscillator's signal line turned downward from the neutral zero line. This indicates that the correction from 1.0350 is likely complete, and the price is now heading towards the target range of 1.0449/83. A breakout below this range would open the path to the next target at 1.0350.
Additionally, today's data on business activity in the Eurozone and the US supports dollar strengthening. The Eurozone Manufacturing PMI for November is expected to weaken from 46.0 to 45.2, while the US Manufacturing PMI is forecasted to rise from 48.5 to 48.8. The ISM Manufacturing Index is also expected to improve from 46.5 to 47.7.
On the H4 chart, the price and oscillator have formed a divergence. Marlin is already in bearish territory, signaling downward momentum. The 1.0449/83 range coincides with the MACD line, making this zone strategically significant. A break below it would pave the way for new targets below 1.0350, with 1.0250 as the next key level.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
