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On the daily chart, the pair's quote breaks above the MACD line after spending two weeks below it.
The Marlin oscillator's entry into positive territory supports the assumption of a medium-term bullish reversal. The strategic target for this upward movement is the April 9 high at 2.0005. However, the price must first overcome the initial target of 1.9288, corresponding to the April 21 high.
On the four-hour chart, the price is advancing above the indicator lines of Balance and MACD, both sloping upward. The Marlin oscillator forms a wedge, indicating favorable conditions for continued growth.
This scenario would only be invalidated if the price consolidates below the MACD line, specifically below 1.9055. The target would shift to the May 20 low at 1.8925 in that case.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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