07.12.202105:16 Forex Analysis & Reviews: Forecast for EUR/USD on December 7, 2021

The euro is gradually losing its chances of succeeding growth. Yesterday, the EUR/USD pair dropped 29 points, only the Marlin Oscillator remained in the horizontal direction. This also preserves the growth scenario, which, when the price breaks above the signal level of 1.1375, prescribes the price to go higher to 1.1448 and further to 1.1572.

Exchange Rates 07.12.2021 analysis

The price is approaching the critical support of the MACD line at 1.1260 on the four-hour chart. If the price moves below it, it will mean a further decline to the target level of 1.1170. Taken together, the probability of a downward scenario is about 60%.

Exchange Rates 07.12.2021 analysis

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

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

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