EUR/USD
On Friday, the euro managed to reach the support at 1.0834 at its intersection with the green price channel line. A rebound occurred from this magnetic point, and today, the price is trying to return to the support it reached on Friday. It may fail in its second attempt to breach the support because it is reinforced by a Fibonacci ray.
As a result, the price may linger above this level for some time, undergo consolidation, and only then attack this support. Consolidation below it will open up the nearest target at 1.0757. The strategic target is the price channel line around the level of 1.0632, which is the September 14 low. In this case, the support of the MACD line (1.0710) acts as an intermediate level. The Marlin oscillator is pressed against the border of the downtrend territory.
On the 4-hour chart, the price is falling below the balance and MACD indicator lines, and the Marlin oscillator is developing a sideways movement in the range but in the downtrend territory, indicating the chances of a price consolidation before attacking 1.0834.
