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Indicator analysis: Daily review of EUR/USD for December 27, 2021

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Trend analysis (Fig. 1).

The market may move up on Monday from the level of 1.1323 (closing of Friday’s daily candle) to the target level of 1.1379, the 38.2% retracement level (blue dotted line). When testing this level, the price may continue to move upward to the target level of 1.1439, the 50.0% retracement level (blue dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

– Indicator analysis – up;

– Fibonacci levels – up;

– Volumes – up;

– Candlestick analysis – up;

– Trend analysis – up;

– Bollinger lines – up;

– Weekly chart – up.

General conclusion:

The price may move up from the level of 1.1323 (closing of Friday’s daily candle) to the target level of 1.1379, the 38.2% retracement level (blue dotted line). When testing this level, the price may continue to move upward to the target level of 1.1439. the 50.0% retracement level (blue dotted line).

Alternative scenario: from the level of 1.1323 (close of Friday’s daily candle), the price may start moving down to the target level of 1.1291, the 50% retracement level (red dotted line). When testing this level, the price may start moving up with the target at 1.1342 – the upper fractal (red dotted line).

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

USDJPY Potential Short-term Bearish Drop | 27th Dec 2021

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