Sat, Dec 04, 2021 @ 16:00 GMT
HomeContributorsTechnical AnalysisEURUSD Intraday Analysis

EURUSD Intraday Analysis

EURUSD (1.1653): Price action in the EURUSD was rather muted following last Thursday’s sharp declines. With the euro clearing the support level at 1.1700 – 1.1672, we now expect the declines to continues. The daily chart shows the validation of the head and shoulders pattern as we expect EURUSD to decline towards the minimum target level of 1.1440. The muted price action currently is also showing signs of a temporary consolidation following which we can expect to see strong declines being resumed. There is a short-term potential for the EURUSD to briefly retest the 1.1672 – 1.1674 level where resistance could be established. However, watch the bearish flag pattern that indicates potential downside.

Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading

Approaching Money Management

Non-Farm Payrolls Explained

Why Do Spreads Widen?

The Original Gartley Pattern