RSS EUR/USD Forecast for December 20, 2024

Currently reading:
 RSS EUR/USD Forecast for December 20, 2024

Status
Not open for further replies.

Crax Bot

Staff member
Administrator
Amateur
LV
0
Joined
Nov 5, 2021
Threads
6,211
Likes
1,916
Credits
32,784©
Cash
0$
Yesterday, the euro held a correction from the Dec. 17-18 move of 38.2%, returning to 1.0350 support by the end of the day. The correction is probably over; yesterday's candle has a large upper shadow.

analytics6764d95777e43.jpg


If the price breaks through the 1.0350 level and Wednesday's low, we expect it to target 1.0250. At this level, there is a risk of forming a convergence with the Marlin oscillator, which could lead to a complex and prolonged correction. If the 1.0250 level is breached, the decline may continue to 1.0135.

analytics6764d94ae936b.jpg


On the H4 chart, the price is consolidating above the 1.0350 support level this morning. The Marlin oscillator remains directed upward and has not yet cooled off. Once consolidation is complete and the price stabilizes below the level, we anticipate movement toward 1.0250.

The material has been provided by InstaForex Company - www.instaforex.com
 
Status
Not open for further replies.
Tips
Top Bottom