FX.co ★ EUR/USD Indicator Analysis; Daily review for December 9, 2021

Trend analysis (Fig. 1).

The market may move down on Thursday from the level of 1.1342 (closing of Wednesday's daily candle) to test 1.1305 - the 38.2% retracement level (red dotted line). Upon reaching this level, the price may move up with the target at 1.1379 - the 38.2% retracement level (blue dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

The market may move down from the level of 1.1342 (closing of Wednesday's daily candle) to test 1.1305 - the 38.2% retracement level (red dotted line). Upon reaching this level, the price may move up with the target at 1.1379 - the 38.2% retracement level (blue dashed line).

Alternative scenario: from the level of 1.1342 (closing of Wednesday's daily candle), the price may move down with the target of testing 1.1291 - the 50% retracement level (red dashed line). Upon reaching this level, the price may start moving up with the target at 1.1354 - the upper fractal (red dotted line).