FX.co ★ EUR/USD analysis for December 07, 2021 - Downside trend today

Technical analysis:

EUR/USD has been trading downside as I expected. I still see potential for the downside movement towards 1,1200.

Trading recommendation:

Strong downside day so far and I see potential for further drop.

Watch for selling opportunities on the rallies using intraday frames. Downside targets are set at the price of 1,1240 and 1,1200.

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

Resistance is set at the price of 1,1300