Indicator analysis. Daily review on the EUR/USD currency pair for December 15, 2020

Trend analysis (Fig. 1).

Today, the market from the level of 1.2142 (closing of yesterday's daily candlestick) may continue the upward movement with the target of 1.2177 resistance level (blue thick line). After testing this level, the price will continue to move up with the target of 1.2274 – the pullback level of 85.4% (yellow dotted line).

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Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger bands - up
  • Weekly chart - up

General conclusion:

Today, the price from the level of 1.2142 (closing yesterday's daily candlestick) may continue to move up with the target of 1.2177 resistance level (blue thick line). After testing this level, the price will continue to move up with the target of 1.2274 – the pullback level of 85.4% (yellow dotted line).

Unlikely scenario: when working up to reach the resistance level of 1.2177 (blue bold line), a downward movement is possible with the target of 1.2093 – a pullback level of 14.6% (red dotted line).

The material has been provided by InstaForex Company - www.instaforex.com