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The euro closed yesterday with a slight decline, indicating the start of a potential consolidation phase below the 1.0590 resistance level.
The price may attempt to break this level, move toward 1.0636, and rise above it. However, for this to happen, the Marlin oscillator needs to move into positive territory first. If either the price or oscillator reverses at resistance, the price could retreat to the 1.0449/83 range, with the possibility of breaking below it.
On the four-hour chart, the upward trend remains intact as the price holds above the indicator lines, with the Marlin oscillator rising in positive territory. If the price consolidates above 1.0590, it is likely to advance further toward 1.0636.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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