So, out of the four scenarios I presented in yesterday's review, the euro chose the growth scenario with the divergence, which has been formed on the daily chart.
The formation has not yet been confirmed, so the price can still reach the target level of 1.1033. In this case, the divergence will become less steep. A confirmation of the reversal is when the price falls below the MACD indicator line, below the 1.0880 mark.
On the four-hour chart, there is an earlier premise for the reversal – the price breaking through the support of the MACD line at the 1.0938 mark. We are waiting for the market to cool down and monitoring how things will progress.
