FX.co - EUR/USD analysis for December 22, 2021 - Breakout of the contraction

2021-12-22T12:26:14

Relevance until2021-12-23

Technical analysis:

EUR/USD analysis for December 22, 2021 - Breakout of the contraction

EUR/USD has been trading upside this morning and I see potential for the upside continuation towards the upper extreme of the trading range.

Trading recommendation:

Due to breakout of contraction to the upside in the background, I see potential for further bullish continuation.

Watch for buying opportunities on the intraday pullbacks with the upside objective at 1,1360.

Stochastic is showing bull condition and potential for further rise.

Key support is set at the price of 1,1225

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

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for December 22, 2021 - Breakout of the contraction