EUR/NZD
On the weekly chart, the signal line of the Marlin oscillator has turned upward from the border of the bearish territory. The last time a similar pattern occurred (a prior tick in February), it preceded a seven-week rally of 1,800 points.
We do not expect a complete repetition of that scenario, but the potential for a medium-term upward move is currently present. The growth target is the peak of the previous high at 2.0005. There is also a possibility of reaching a magnetic point formed at the intersection of this level with the price channel line.
On the daily chart, the price has consolidated above the target level of 1.9288. The Marlin oscillator remains in the positive area and is developing within its ascending channel. A breakdown of the uptrend could occur if the price falls below the MACD line, located near 1.9178.
On the H4 chart, the Marlin oscillator is breaking into positive territory, while the price has stabilized above the 1.9288 level. The price also holds above both the balance line and the MACD line. We are expecting further development of the upward trend.
