Last Friday, the euro began corrective growth, reaching the resistance of the target level 1.1705. But the Marlin Oscillator must enter the zone of positive values in order to develop a larger correction, which will obviously happen not earlier than when it settles above 1.1705, that is, at least in a day. If this does not happen, the price will go off to reach the lower target level of 1.1640.
The price is approaching the MACD indicator line (1.1723) on the four-hour chart. Overcoming it opens the target at 1.1760 - strong support in the July 19-26 period. Consolidating above the level may extend the rise to the daily MACD line around 1.1847.