FX.co ★ Technical Analysis of Daily Price Movement of EUR/USD Main Currency Pairs, Monday December 04 2023.

From the daily chart, the main EUR/USD currency pair is seen moving within the Bearish Pitchfork channel, which indicates that the Fiber condition is in a Bearish situation, which is also confirmed by the appearance of deviations between price movements and the Stochastic Oscillator indicator and the Ascending Broadening Wedge pattern, which is all confirms that in the next few days EUR/USD has the potential to weaken to the level of 1.0634 as the main target and if the momentum and volatility are supportive enough then the level of 1.0451 will be the next target to be aimed at, however all of these scenarios can become invalid and cancel by themselves If on its way to these targets suddenly EUR/USD strengthens again until it breaks above level 1.0984.

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