empty
 
 
24.12.2021 12:31 PM
Trading plan for EURUSD for December 24, 2021

This image is no longer relevant

Technical outlook:

EURUSD has rallied through 1.1343 in the past hour after dropping to 1.1290 lows on Thursday. The currency pair might be looking to push through 1.1360-70 zone intraday, before finding resistance. A consistent push through 1.1383 would be considered as breakout as bulls remain poised to push further towards 1.1500 and 1.1700 levels.

EURUSD has retraced its recent upswing between 1.1186 and 1.1383 in the past week. The currency dropped through fibonacci 0.786 levels of above drop and bounced back. Ideally, bulls should remain in control until prices remain above 1.1222 mark going forward. Also note that the near term targets could be pointing towards 1.1500 at least.

On the flip side, if prices turn lower from here and break below 1.1186, it could further open the door for a test of 1.1000 mark. A bullish bounce there could bring back bulls into play as they attempt to regain 1.1400 handle. Immediate resistance on the daily chart is now seen at 1.1690, while support comes around 1.1160.

Trading plan:

Potential rally through 1.1500 against 1.1150

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback