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Expert In



EUR/USD analysis for December 06, 2021 - Downside continuation on the way

Technical analysis:


EUR/USD has been trading sideways at the price of 1,1289 but I see potential for the downside continuation.

Trading recommendation:

Due to strong downside cycle on the EUR , I see potential for the downside continuation.

Watch for selling opportunities on the rallies with the downside objectives at 1,1240 and 1,1195.

Stochastic is showing fresh bear cross and overbought condition, which is another sign and confirmation for the downside continuation.

Resistance level is set at the price of 1,1325

The material has been provided by InstaForex Company -