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

2021-12-06T14:33:50

Relevance until2021-12-07

Technical analysis:

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

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

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for December 06, 2021 - Downside continuation on the way