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On Monday, the euro gently reached the target level of 1.1420 and then pulled back by 50 pips just as smoothly, closing the day with a white candlestick, carefully maintaining the upward trend. The Marlin oscillator has settled in the growth zone, confirming the price's upward intention.
A breakout above 1.1420 (which corresponds to yesterday's high) opens the path to the next target at 1.1535. Beyond that, we expect continued growth toward 1.1692, corresponding to the October 2021 high.
The four-hour chart showed a divergence between the price and the Marlin oscillator. The divergence can be considered fulfilled given the oscillator's false dip into negative territory (gray rectangle). A confirmed price hold above 1.1420 will signal a new upward wave in the oscillator.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
On the hourly chart, the GBP/USD pair on Wednesday consolidated above the weak 161.8% retracement level at 1.3520. This consolidation allows for expectations of continued growth toward the next retracement
With the condition of the Stochastic Oscillator indicator at the Overbought level and a Divergence appears between the indicator and the Nasdaq 100 index price movement, so that
The eagle indicator is showing a negative signal for the euro, suggesting a possible fall in the coming days. Therefore, our outlook remains bearish as long as the price consolidates
On the other hand, if bullish strength prevails, we could expect a technical rebound around 3,355. This area has provided gold with a good rebounding point in the past
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