03.12.202404:50 Forex Analysis & Reviews: Forecast for EUR/USD on December 3, 2024

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.

During yesterday's decline, the euro reached the target range of 1.0449–1.0483 but exited above it by the close of the day. Today, the price is starting with consolidation above the upper boundary of this range, likely with the intent to break through and settle below it.

The Marlin oscillator has begun a confident downward movement after reversing from the boundary of the bullish trend.

On the four-hour chart, yesterday's decline paused at the support of the MACD line.

The price's heightened sensitivity to this line highlights the importance of the 1.0449 level. When the price approaches this level in a few bars, the MACD line is expected to align with the linear level of 1.0449. A break below this level would open the path to a target at 1.0350.

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.