empty
 
 

Forex Analysis & Reviews: EUR/USD analysis for December 09, 2022 - Potential for the the upside continuation
time 09.12.2022 09:35 AM
time Relevance up to, 10.12.2022 09:35 AM

Technical analysis:

This image is no longer relevant

EUR/USD has been trading upside and the previous swing high at the price of 1.0590 is on the test. In case of the upside breakout of swing high, I see potential for the further rally.

Trading recommendation:

Due to the strong upside pressure in the background and buyers in control, I see potential for the further upside movement.

Watch for the potential buying opportunities in case of the upside breakout of the 1.0690.

Upside objective is set at the rice of 1.0750

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.0450

EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

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.

  • 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 February 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

Indicator analysis: Daily review of EUR/USD on February 3, 2023

The euro-dollar pair may move downward from the level of 1.0909 (closing of yesterday's daily candle) to 1.0870, the 13-day EMA (thin yellow line). When testing this level, an upward

Stefan Doll 09:00 2023-02-03 UTC+2

AUDUSD Potential for Bullish rise to previous swing high

Description : Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud, Looking for a buy entry

Dean Leo 08:28 2023-02-03 UTC+2

BTCUSD Potential For Bullish Rise to previous swing high

Description : Looking at the H4 chart, my overall bias for BTCUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking

Dean Leo 08:23 2023-02-03 UTC+2

Forecast for EUR/USD on February 3, 2023

The meetings of the Federal Reserve, the European Central Bank and the Bank of England are now over. Their results are very confusing, we cannot determine the reason

Laurie Bailey 04:39 2023-02-03 UTC+2

Forecast for GBP/USD on February 3, 2023

As a result of yesterday's Bank of England meeting, which raised the rate by 0.50% and made it clear that it wouldn't go for a much higher rate

Laurie Bailey 04:39 2023-02-03 UTC+2

Forecast for USD/JPY on February 3, 2023

The Japanese yen got a little stronger after the meetings of the three major central banks, but it only strengthened the neutral position and uncertainty, since it is technically staying

Laurie Bailey 04:39 2023-02-03 UTC+2

Technical analysis of GBP/USD for February 02, 2023

The bullish trend is currently very strong on the EUR/USD pair. As long as the price remains above the support levels of 1.2218, you could try to benefit from

Mourad El Keddani 20:51 2023-02-02 UTC+2

Technical analysis of EUR/USD for February 02, 2023

The EUR/USD pair will continue to rise from the level of 1.0802. The support is found at the level of 1.0890, which represents the 38.2.% Fibonacci retracement level

Mourad El Keddani 20:27 2023-02-02 UTC+2

February 2, 2023 : EUR/USD daily technical review and trading opportunities.

The price zone around 1.1500 has applied significant SELLING pressure upon the previous ascending movement towards it. Shortly after, the EUR/USD pair has been moving downwards reaching the price levels

Mohamed Samy 19:10 2023-02-02 UTC+2

February 2, 2023 : EUR/USD Intraday technical analysis and trading plan.

Price action around the key-level of (1.0550-1.0600) was quite bullish. That's why, further bullish continuation towards 1.0800 was demonstrated. Moreover, more bullish advancement towards the nearest supply zone around 1.1150-1.1200

Mohamed Samy 19:09 2023-02-02 UTC+2
Can't speak right now?
Ask your question in the chat.