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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Trading Signals for EUR/USD for December 6-9, 2024: sell below 1.0620 (200 EMA - 3/8 Murray)
07:59 2024-12-06 UTC--5
Exchange Rates analysis

Early in the American session, the EUR/USD pair is trading around 1.0579, above the 21 SMA, and below the 3/8 Murray with a bullish bias.

Yesterday during the American session, the euro managed to cover the gap left around 1.0576 and is now consolidating around this area. If the bullish force prevails, EUR/USD could reach 1.0620 or 1.0643 (200 EMA) in the next few hours.

A technical correction is likely to occur in the next few days as the eagle indicator is reaching the overbought zone. We believe the outlook will be negative for the euro below 1.0643. So, the instrument could reach 1.0417 in the short term where it left a gap on November 21.

A break and consolidation below 1.0532 could be seen as a bearish signal.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.