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Forex Analysis & Reviews: Indicator analysis of EUR/USD on December 8
time 08.12.2022 09:21 AM
time Relevance up to, 09.12.2022 08:04 AM

Trend analysis (fig. 1).

Today, the pair may decline to the support level of 1.0471 (blue bold line) from 1.0508 (closing of the daily candlestick). From this level, the price may go up. If so, it is likely to reach the upper fractal of 1.0594 (blue dotted line).

This image is no longer relevant

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis– up;

- Fibonacci levels – down;

- trading volumes – down;

- candlestick analysis – up;

- trend analysis – up;

- Bollinger lines – up;

- weekly chart-up.

Conclusion:

Today, the pair may decline to the support level of 1.0471 (blue bold line) from 1.0508 (closing of the daily candlestick). From this level, the price may go up. If so, it is likely to reach the upper fractal of 1.0594 (blue dotted line).

Alternatively, the pair could drop to the 13 average EMA of 1.0426 (yellow thin line) from 1.0508 (closing of yesterday's daily candlestick). From this level, the price is likely to climb to the upper fractal of 1.0594 (blue dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
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