Forex experienced reduced volatility in the thin market yesterday, due to the holiday in the US. Euro trading volumes were the smallest since August. The price was trading on the MACD line on the daily chart. The Marlin oscillator has slightly increased, but is in the negative trend zone
On the four-hour chart, the price also developed below the MACD indicator line, but the signal line of the Marlin oscillator managed to infiltrate the growth zone. However, it’s still not deep, the line will easily return with the (expected) price fall.
During periods of consolidation, especially when the MACD line itself is located horizontally, the price can be wound on it as an axis without deviation far from it. Therefore, the consolidation range defined in yesterday’s review at 1.0985-1.1026 remains today. The United States has a shorter working day today, so we do not expect the price to go out of the range today.
The material has been provided by InstaForex Company – www.instaforex.com