This price movement suggests that after closing the opening gap, if the price fails to rise above the red line, it may attempt to break below the azure channel line. This would open the path to the key target at 0.9885, aligning with the red channel line.
The new daily candle opened below the MACD indicator line, reinforcing bearish sentiment. The Marlin oscillator remains in negative territory, supporting the potential for further declines. After closing the gap, we expect the price to move towards the support level at 1.0135.
On Friday, the price reversed downward from the MACD indicator line on the 4-hour chart. The price has also secured itself below the balance indicator line, signaling a shift towards short positions. Additionally, the Marlin oscillator has settled in the bearish zone, confirming the downtrend continuation.
