empty
04.12.2023 05:55 PM
Forecast of EUR/USD for December 04, 2023

This image is no longer relevant

Forecast :

The EUR/USD pair trades in a a bearish channel below the weekly pivot point of 1.0919 to start the week.

The EUR/USD pair could struggle to gather bullish momentum unless risk mood improves.

ECB President Lagarde will be delivering a speech later in the day.

The EUR/USD pair started the new week under modest bearish pressure and was last seen moving up and down in a narrow band below the levels of 1.0919 and 1.0830.

The euro was a bit negative in the early hours of Monday but saw a significant amount of support just below the current trading levels.

RSI is stiil calling for negative deriction - bearish market - below 30.

Trading recommendations :

The trend is still bullish as long as the price of 1.0830 is not broken. Thereupon, it would be wise to sell below the price of at 1.0830 with the primary target at 1.0800. Then, the EUR/USD pair will continue towards the second target at 1.0722. The breakdown of 1.0722 will allow the pair to go further down to the prices of 1.0703. The stop loss hsould be placed above the pivot point 1.0919.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on April 23rd (US Session)

Trade Review and USD/JPY Trading Advice There were no tests of the levels I marked in the first half of the day. In the second half of the day, investors

Jakub Novak 18:33 2025-04-23 UTC+2

GBPUSD: Simple Trading Tips for Beginner Traders on April 23rd (US Session)

Trade Breakdown and Trading Advice for the British Pound The test of the 1.3325 level occurred just as the MACD indicator began moving upward from the zero line, confirming

Jakub Novak 18:29 2025-04-23 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 23rd (US Session)

Trade Breakdown and Tips for Trading the Euro The test of the 1.1405 price level occurred just as the MACD indicator began moving upward from the zero line, confirming

Jakub Novak 18:26 2025-04-23 UTC+2

EUR/USD. Analysis and Forecast

The EUR/USD pair is showing intriguing behavior, especially given the current economic conditions—dropping to a weekly low during the Asian session before recovering later. The primary factor weighing on EUR/USD

Irina Yanina 11:43 2025-04-23 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on April 23. Review of Yesterday's Forex Trades

The price test at 140.68 occurred when the MACD indicator had already moved significantly above the zero line, which, in my view, limited the pair's upside potential. For this reason

Jakub Novak 08:48 2025-04-23 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 23. Review of Yesterday's Forex Trades

The test of the 1.3356 price level coincided with the moment when the MACD indicator had just started moving downward from the zero mark, confirming a correct entry point

Jakub Novak 08:48 2025-04-23 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 23. Review of Yesterday's Forex Trades

The test of the 1.1460 price level in the second half of the day coincided with the MACD indicator starting to move downward from the zero line, confirming the correct

Jakub Novak 08:48 2025-04-23 UTC+2

Intraday Strategies for Beginner Traders on April 23

The Euro and the Pound plummeted, along with several other risk-sensitive assets paired with the US dollar—and there were objective reasons for this. Yesterday, Donald Trump stated he was ready

Miroslaw Bawulski 08:48 2025-04-23 UTC+2

Oil is falling, Trump is angry, Powell is silent – who will blink first?

Oil and gas continue to play by the rules of big politics. Every Trump statement, every Federal Reserve decision, and every new move from China is like a new card

Anna Zotova 00:09 2025-04-23 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – April 22nd (U.S. Session)

Trade Breakdown and Trading Tips for the Japanese Yen The first test of the 140.35 level occurred just as the MACD indicator began to move upward from the zero line

Jakub Novak 19:47 2025-04-22 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.