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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
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