See also
01.04.2024 06:47 AMEUR/USD
On Friday, the price closed below the balance indicator line on the daily chart. This morning, the price is trying to rise above the level of 1.0796. If it closes Tuesday above this mark, the next target will be 1.0905. However, it has a weak potential for growth, as the Marlin oscillator will continue to move in the downtrend territory.
Today, the US Manufacturing Purchasing Managers' Index for March will be published. Market players expect it to rise from 52.2 to 52.8. The ISM Manufacturing PMI is projected at 48.5, up from February's 47.8. This will weigh on the euro. If the pair closes the day below the level of 1.0796, then we can confirm the initial signal that we saw on Friday, and the price may fall to 1.0724. The second target is 1.0632 - the low of May 31, 2023.
On the 4-hour chart, the price fluctuates at the level of 1.0796. The Marlin oscillator is close to transitioning into the growth territory. If the price settles above this mark, Marlin will climb above the zero line, and such a combined signal will open the corrective target of 1.0820 - the MACD line on the considered timeframe. If the price settles above 1.0822, the target will be 1.0865. A break below Friday's low will remove the risk of corrective growth.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
