empty
 
 
08.12.2020 04:44 AM
Forecast for EUR/USD on December 8, 2020

EUR/USD

The euro traded in a range of more than 80 points on Monday, closing the day with a 13-point decline, below the target level of 1.2117. The Marlin oscillator is turning down on the daily chart. The first downward target for the euro is the price channel line at 1.2036, getting the pair to settle below this level opens the way to the MACD line near 1.1935.

This image is no longer relevant

The price settled below the 1.2117 level on the four-hour chart. Yesterday's upward surge in price stopped at a time when the signal line of the Marlin oscillator reversed from the zero line downward (arrow). The MACD line (1.2072) will be an obstacle to reaching 1.2036. Being able to settle below it will be a sign that the price has successfully broken through the price channel line.

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback