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EUR/AUD
On the daily chart, the price has almost consolidated below both indicator lines. A short-term descending channel has formed along a MACD line that has turned downward.
The Marlin oscillator is testing the boundary with the bearish zone. The target is seen at the lower edge of the price channel at 1.7400, with the primary objective at 1.7246, the May low. If the price consolidates above the upper boundary of the channel at 1.7862, the main scenario will shift to an alternative one — a rise toward 1.8154, the August high.
On the four-hour chart, the price has consolidated below the MACD line. A brief move of the Marlin oscillator signal line above zero, marked by an arrow, proved to be a confirmed false breakout, as consolidation below it has already occurred. The trend remains downward.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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