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On the daily scale, the price with the Marlin oscillator formed a convergence. Structurally, however, the convergence is not very strong because it was formed after the oscillator signal line returned from the positive zone, which it had been in for a long time—more than 14 trading sessions.
As a result, further movement of the oscillator's signal line may follow a descending channel marked by red lines. Under the main scenario, the price could decline to the target level of 1.2367, successively breaking through 1.2510 and 1.2447. On the four-hour chart, the price reversed from the balance indicator line (see arrow).
The price may revisit the target level 1.2616 to address unfinished business before turning downward to test support levels. The Marlin oscillator is consolidating near the zero line, allowing for such a test of resistance. However, the overall trend remains bearish, as the price is below the indicator lines, and the MACD line is trending downward, confirming the direction of the short-term trend.
*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।