EURUSD Forecast – $1.14000 as a Short Term Target

by Dec 11, 2021EURUSD Forecast

EURUSD Forecast

EURUSD chart analysis 

This week’s price did not reach the previous analysis predicted level, but the market overview looks like it is preparing to move up.

We had a bullish Pin bar formed on Tuesday where the price could not close below lows of previous candles. That was one signal the price had a hard time to move down.

Then we had a strong bullish candle which covered six previous candles, but could not close above those candles close price. That was also a signal the price had a hard time to move higher.

Next day the price returned down, but the pullback was not so strong and the price remained inside a large bullish candle.

This means the price is in control of bulls.

EURUSD Daily Forecast 11_12_2021

On Friday we had a small bullish candle whose low price was not below a large bullish candle and that suggests the price has strong support on $1.12650 level.

You can see the price has been in range for the last two weeks and it is bouncing inside the supply/demand zone that is marked with an orange rectangle.

As the market now looks it seems the price will move higher and reach $1.14000 which is a confluence of resistance.

The area between $1.14000 and $1.14748 is the area for the price where it will be defined will the price continue moving down or it will try to break above and return to the downtrend channel.

In the short term the price will move up and from the current price it is likely we will see 100 – 150 pips move up.

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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