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24.12.201808:46 Forex Analysis & Reviews: Technical analysis for EUR/USD for December 24, 2018

Long-term review

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The EUR/USD pair had another failed attempt to break above resistance on Friday. The price got rejected at the major trend line resistance and pulled back below 1.14 towards the 1.1350-1.1370 support area. The price remains within the trading range.

Yellow rectangles - trading range

Red line - major trend line resistance

Green line - trend line RSI Support

EUR/USD remains within the trading range. It is safer to wait for a clear breakout before acting. However, the major bullish divergence implies that it is more likely to see a move higher. This move higher will be confirmed once the red trend line is broken. And we will remain on the bullish side as long as the green trend line support of the RSI is not broken downwards.

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