FX.co - EUR/USD for December 02,2019 - Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029

2019-12-06T14:57:47

Relevance until2019-12-07

EUR/USD for December 02,2019 - Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029

EUR rejected of our main multi pivot resistance at 1.1109. As I mentioned, after the price reached Pitchfork median line, we would form several smaller swings before new direction.

EUR/USD for December 02,2019 - Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029

Full focus is now on the support at 1.1066. The potential downside breakout of support may lead for test of 1.1029.

MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Technical analysis #EURUSD

Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2025

FX.co ★ EUR/USD for December 02,2019 - Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029

Forex Analysis

EUR/USD for December 02,2019 - Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029