EURUSD December 7th Price action analysis
EURUSD was able to finish the day by 0.28% yesterday. The EURUSD was able to reach $ 1.14 a barrel at no cost to its November rebound rate of 1.1314. The Rand rate of $ 1.14 is consistent with the resistance line line drawn from the peak of January 1, 1621. The EURUSD price movement stopped at 1.14 and EURUSD returned to below 1.14 USD. From Thursday, last week, the pair fluctuated between November and November at $ 1.14 a barrel. The key resistance of 1.1464 and the Rand rate of 1.13 have surrounded this neutral range.
In the long-term charts of EURUSD, the currency pair’s outlook has not changed. The EURUSD weekly chart continues to fluctuate between 1,1465 and the demand zone of 1.212-1.1.1199. However, it should be noted that the current weekly curtain concludes with the power of the buyers. On the daily chart of EURUSD, the formation of the AB = CD pattern at the upper end of the demand zone is 1 112 120 1 1171. If the pair of EURUSD returns from this range, it will face a resistance of 1.1455 daily, matching the Fibonacci levels 61.8 and 38.2% Fibonacci.
Price action strategy
Given that long-term charts do not fit in with each other, the EURUSD fluctuates between 1.14 and 1.1314. From a technical point of view, the 4-degree curls can fall below 1,1314. Recently, a strong 4-week downtrend has been closed and can bring retailers to the market.