For Traders

Analytical Reviews

Technical analysis

29.12.202305:29 Forex Analysis & Reviews: Forecast for EUR/USD on December 29, 2023

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.

EUR/USD

Yesterday, the euro failed to settle above the level of 1.1076 and, with below-average volumes, returned below it. Reduced trading volumes tells us that major players are not closing long positions.

This morning, the price is rising again and pushing through the resistance at 1.1076. If it manages to stay above this mark, the 1.1185 target will become relevant again. Settling above 1.1185 will pave the way for the price to reach the target of 1.1280. On the daily chart, the Marlin oscillator edged down yesterday but has gone back to rising again in today's Asian session.

On the 4-hour chart, the price briefly settled below 1.1076 but quickly turned back up. This was supported by the Marlin oscillator, which reversed from the border of the downtrend territory. We expect the euro to rise further.

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.