EURUSD Forecast – $1.11871 and $1.13600 as a Decision Price

by Dec 18, 2021EURUSD Forecast

EURUSD Forecast

EURUSD chart analysis 

The EURUSD price was ranging the whole week where we had two strong moves outside the range area.

The week started with two bearish candles where Tuesday’s candle closed below previous daily closes. That suggested the price could move down to the first support at $1.11871.

On Wednesday we had the price moving to $1.12196 and returning back inside the range. And on Thursday the price tried to break above and reached $1.13592 which is above previous daily candle close. And this price level is also a level where the downtrend line is located which puts a pressure on the price.

From there the price dropped strongly down and closed the day below the price range where the price was since 26.November.

EURUSD Daily Forecast 18_12_2021

Have in mind that the price had a strong move on Friday which is a day when traders get out from the market and cash out what they have made in the previous days.

There is a chance the price will return back in the range area after Monday. Usually Monday is the day when the market defines the trend for the rest of the week.

The price could find support at $1.11871 and return back up because the price is now in the indecision area.

We have strong buyers at $1.11871 and strong sellers at $1.13600.

Which level the price breaks first we will know where it will move in the future. Buyers need to move the price above $1.14000 as a first step to change the market direction.

And the sellers need to close the price below $1.11871 if they want to see the price lower.

Entry EURUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

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Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

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