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EUR/USD analysis for December 23, 2021 – Potential for drop towards downside reference

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Technical
analysis:

EUR/USD
has been trading downside this morning and I see potential for
further downside movement.

Trading
recommendation:

Due
to overbought condition in the background and downside breakout,
watch for selling opportunities on the rallies.

Downside
targets are set at the price of 1,1280 and 1,1264

Stochastic
is showing overbought condition and
fresh bear cross, which is another sign and confirmation for the
downside rotation.

Key
resistance is set at the price of 1,1343

The material has been provided by InstaForex Company – www.instaforex.com

Gazprom gives no choice to EU, gas is trading at $1,900 per thousand cubic meters

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