Technical analysis of EUR/USD 03/12/2021
EUR/USD currency pair shows a downward correction on the weekly chart. Quotes found resistance at 1.2340 and are now in the area of last year’s high of 1.1900, testing (23.6% Fib). The next support levels on the way of correction will be: 1.1700 (38.2% Fib); 1.1500 (50% Fibo) and (MA200). If quotes fall below 1.1300 (61.8% Fib), this will mean a trend change to the long term.
Cancellation of the correction development option will be the growth of quotes above the annual maximum of 1.2340 as part of the continuation of the upward trend on the weekly timeframe.
Created by Joshua Hayn