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

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Forex Analysis

2 December 2021 at 12:28PM (UTC+0)
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EUR/USD analysis for December 02, 2021 - Breakout of the contraction

Technical analysis:

EUR/USD analysis for December 02, 2021 - Breakout of the contraction

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,.

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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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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