FX.co ★ EUR/USD analysis for December 17, 2021 - Rejection of key resistance

Technical analysis:

Gold has been trading upside but I see potential for the downside movement due to overbought condition and potential for the downside breakout.

Trading recommendation:

Due to overbought condition and downside breakout of the rising channel, there is potential for the downside movement.

Watch for selling opportunities on the rallies with potential for test of $1,795

Stochastic oscillator is showing overbought condition and potential for the downside movement.

Key resistance is set at the price of $1,815