23.12.201917:17 Forex Analysis & Reviews: EUR/USD for December 23,2019 - Broken resistance pivot at 1.1087, watch for buying opportunities

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.

Technical analysis:

EUR has been trading upwards in the past 24-hours. I found the breakout of the key swing high at 1.1087.There is also a fake bear flag, which is good sign for the further upside.

Watch for buying opportunities on the dips with the targets at 1.1108 and 1.1122.

MACD oscillator is showing new momentum up on the last rally, which is good confirmation for our bullish view.

Stochastic oscillator did fresh new bull cross

Resistance level is seen at price of 1.1108 and 1.1122

Support levels are set at the price of 1.1087 and 1.1070

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.