FX.co - EUR/USD analysis for December 12, 2022

2022-12-12T08:54:38

Relevance until2022-12-13

Technical analysis:

EUR/USD analysis for December 12, 2022 - Breakout or rejection

EUR/USD has been trading sideways at the price of 1.0545 and I see potential for the range play.

Trading recommendation:

Due to the strong sideways condition at the price of 1.0545 I see potential for the range play.

In case of the rest and reject of the resistance at 1.0600, watch for the downside rotation towards 1.0450

In case of the upside breakout and continuation watch for buying opportunities on dips with the upside objective at 1.0740

*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 12, 2022 - Breakout or rejection