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10.12.2019 08:37 AM
Indicator analysis: Daily review on December 10, 2019, on EUR / USD currency pair

Trend analysis (Fig. 1).

On Tuesday, the first upper target is a pullback level of 50.0% which is equivalent to 1.1079 presented in a red dashed line. If successful, the next upper target 1.1088 is a retracement level of 61.8% presented in a red dashed line. From the level of 1.1088, we can expect the continuation of the upper work with the target of 1.1111 on the upper fractal.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

On Tuesday, the first upper target is a pullback level of 50.0% which is equivalent to 1.1079 presented in a red dashed line. If successful, the next upper target 1.1088 is a retracement level of 61.8% presented in a red dashed line. From the level of 1.1088, we can expect upper work with the target of 1.1111, the upper fractal.

Although unlikely, there is still a possibility that the price may move down to the lower fractal 1.1041 which is presented in a red dashed line.

Stefan Doll,
Analytical expert of InstaForex
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