EUR/USD
Media reports are overwhelmed with monotonous comments about the growth of currencies over the past four days - investors believed that the Federal Reserve would maintain a soft policy for a long time to come. But it does not take into account the fact of a general decline in commodities and stock indices, which began almost simultaneously in all markets on May 7-10. The S&P 500 stock index fell by 2.48% during this time, oil by 2.18%, copper by 1.66%, lumber lost 24.6% in price, and wheat by 9.68%. Of course, this is a strong factor in the imminent strengthening of the US dollar.
Yesterday the euro fulfilled its secret wish - it crossed the May 11 high and made a double divergence with the Marlin oscillator. Now the price may turn down, if not in the medium term, then into a deep correction, below the level of 1.1985.
A divergence has formed on the four-hour chart. If the price moves below the level of 1.2135, it will be a sign of its succeeding decline to the MACD line, and a consolidation below this indicator line opens the target at 1.1985.
