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03.12.202118:17 Forex Analysis & Reviews: December 3, 2021 : EUR/USD daily technical review and trading opportunities.

Exchange Rates 03.12.2021 analysis

During the past few weeks, the EURUSD pair has been trapped within a consolidation range between the price levels of 1.1700 and 1.1900.

In late September, Re-closure below the price level of 1.1700 has initiated another downside movement towards 1.1540 which managed to hold prices for a short period of time before another decline took place towards 1.1200.

Currently, the price zone around 1.1500 stands as a prominent supply-zone to be watched for SELLING pressure and a possible SELL Entry upon any upcoming ascending movement.

Moreover, it is not advised to add new SELL Entries as the pair already looks oversold.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Mohamed Samy,
Analytical expert of InstaForex
© 2007-2022
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