09.12.202105:56 Forex Analysis & Reviews: Forecast for EUR/USD on December 9, 2021

The euro broke through yesterday, blocking the decline of the last five days. This is a good sign of further price growth, but now the control-target levels have changed - for medium-term growth, the price should rise above the daily scale MACD indicator line, above the 1.1415 level (the area of the June 2019 peak). The Marlin Oscillator has broken out into the growth zone, now it helps the price to reach the first target (1.1415). If a pronounced downward reversal of the price occurs from the MACD line, then another euro hike to 1.1170 may take place.

Exchange Rates 09.12.2021 analysis

The price is in an upward trend on the four-hour chart: development is taking place above the balance and MACD indicator lines, the Marlin Oscillator has settled in the territory of the upward trend. If the price moves under the MACD line, below 1.1280, it will signal its further advance to 1.1170.

Exchange Rates 09.12.2021 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.

  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
Can't speak right now?
Ask your question in the chat.