For Traders

Analytical Reviews

Technical analysis

20.12.202205:13 Forex Analysis & Reviews: Forecast for EUR/USD on December 20, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Yesterday, EUR/USD tried to move past the upper limit of the 1.0615/42 range, but as a result, the price closed the day below the lower limit of the range, which confirmed that the euro settled below 1.0615.

It is still necessary to wait for the Marlin oscillator's transition into the negative area, and then the price will move to the target level of 1.0470.

On the four-hour chart, the price is held by the MACD indicator line. Yesterday, there was an attempt to go past it. This was marked by the price testing 1.0576 (low of the day), when the euro crosses this level, it will start to move to the target level of 1.0470 (low of April 28). The Marlin oscillator is developing on the lower half of the four-hour chart, in the area of the downtrend.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.