FX.co ★ EUR/USD analysis for December 02, 2021 - Breakout of the contraction

Technical analysis:

EUR/USD has been trading upside and there is the big selling climax in the background, which is sign for the further rally.

Trading recommendation:

Due to massive selling climax in the background on EUR and upside breakout of contraction today, I see potential for further rise,.

Watch for buying opportunities with the upside objectives at 1,1358 and 1,1380.

Stochastic oscillator is showing strong reading with no signs for the reversal.

Key support is set at 1,1300