FX.co ★ Indicator analysis. EUR/USD daily review on December 7, 2021

Trend analysis (Fig. 1)

EUR / USD will try to rise on Tuesday, from 1.1284 (closing of yesterday's daily candle) to the 23.6% retracement level (blue dotted line) - 1.1580. Then, it will continue rising to 1.1389, which is the 38.2% retracement level (blue dashed line). Strong economic reports will provoke these price movements.

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - uptrend;

- Fibonacci levels - uptrend;

- Volumes - uptrend;

- Candlestick analysis - uptrend;

- Trend analysis - uptrend;

- Bollinger bands - uptrend;

- Weekly chart - uptrend.

Conclusion: EUR/USD will rise from 1.1284 (closing of yesterday's daily candle) to the 23.6% retracement level (blue dotted line) - 1.1580. Afterwards, it will climb to 1.1389, which is the 38.2% retracement level (blue dashed line), and then go further up.

That being said, there is little chance that EUR/USD will drop from 1.1284 (closing of yesterday's daily candle) to the 261.8% retracement level (red dotted line) - 1.1253, and then move to 1.1305, which is the 23.6% retracement level (blue dashed line).