The euro continues its movement toward the projected target of 1.1820, which is the upper boundary of the price channel. Yesterday's growth totaled 32 pips. Bears can reverse the trend only after the price consolidates below the 1.1535 level, which would also mean a break below the MACD line. The Marlin oscillator is rising confidently.
Today, May U.S. housing sales data will be released. The forecast anticipates a 6.59% year-on-year slowdown. Additionally, the number of building permits issued is expected to decline by 2.0%. This could give the euro an additional boost of optimism and confidence.
On the four-hour chart, the signal line of the Marlin oscillator is forming a consolidation. Once this phase is complete, we expect the upward movement to continue. A break above yesterday's high at 1.1642 will serve as the confirmation signal.
