FX.co - EUR/USD analysis for December 06, 2022 - Potential for the the upside continuation

2022-12-06T06:58:31

Relevance until2022-12-07

Technical analysis:

EUR/USD analysis for December 06, 2022 - Potential for the the upside continuation

EUR/USD has been trading downside at the price of 1.0476. Anyway, I see potential for the further rally due to strong support on the test.

Trading recommendation:

Due to the strong support and multi Fibonacci confluence on the test, I see potential for the further upside movement.

Watch for the potential buying opportunities with the upside objectives at the price of 1.0515 and 1.0590.

Stochastic Oscillator is showing bullish divergence, which is another good sign for further upside continuation.

Key support is set at the price of 1.0470

*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, 2022 - Potential for the the upside continuation