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EUR/USD
By the end of the previous trading day, the euro gained 36 pips amid mixed performance in U.S. stock indices and a slight decline in government bond yields.
There are external signs that bond yields may continue to decline. However, if that's the case, we shouldn't expect a strong euro rally in the medium term—such as a move to the upper boundary of the price channel on the daily chart at 1.1908. For now, the euro has two active targets:
If the price suddenly falls below yesterday's low at 1.1543, it may attempt to consolidate under the 1.1495 support level, which would open the path toward the 1.1392 target.
On the H4 chart, the price has moved above both the MACD line and the balance line. The Marlin oscillator has also settled in positive territory. This technical setup will help the price consolidate above the MACD and prepare for an assault on 1.1662.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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