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Yesterday, the euro stayed at a signal level of 1.1387 on new messages from Federal Reserve officials regarding a rate hike in March and an intensification of the hot phase of the conflict in Ukraine. Evans, Waller, Williams, Brainard are set to speak today. They may further strengthen investors' expectations regarding the increase in the March rate by 0.50% at once. The US stock index S&P 500 lost 2.12% yesterday. Obviously, against such a background, the euro is unlikely to be able to grow.
On the daily chart of the single currency, the price has overcome the support of the balance indicator line – the current day opened below it. The Marlin Oscillator is turning down from the zero line. The price will try once again to reach the support at 1.1280 and overcome it, which will allow further decline to the target level of 1.1060.
On the four-hour chart, the price is settling below the MACD indicator line, the Marlin Oscillator is moving sideways above the zero line, which gives the price an opportunity to test the strength of the signal level 1.1387 once again before it decisively moves down.
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