empty
29.12.2021 08:07 AM
Trading plan for EUR/USD for December 29, 2021

This image is no longer relevant

Technical outlook:

EUR/USD dropped to 1.1290 on Tuesday before finding support and bouncing sharply toward the 1.1320 level. The pair declined lower to 1.1305 at the time of writing. It is expected to rally toward 1.1340 in the near term. If it rises above 1.1350-60, it is likely to test 1.1375 before finding resistance again. Strong short-term support is seen around the 1.1222 mark.

EUR/USD is expected to break out of its consolidation range between 1.1250 and 1.1340 soon as bulls prepare to push through the 1.1500 and 1.1700 levels. Please note that the price needs to consolidate above 1.1235 and broadly above the 1.1186 mark to keep its bullish structure intact. A consistent drop below 1.1186 would open the door to test 1.1160 support.

EUR/USD had earlier rallied between the 1.0636 and 1.2350 levels, carving a meaningful upswing. The corrective drop might be complete toward the 1.1186 mark on November 24. The high probability remains for another upswing to resume toward 1.2350 and higher. A break above 1.1690, which is the next resistance on the daily chart, will confirm that bulls are back in control and here to stay.

Trading plan:

Potential rally towards 1.1500 and 1.1700, against 1.1150.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
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

GBP/USD: Trading Plan for the U.S. Session on May 5th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3324 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 17:52 2025-05-05 UTC+2

EUR/USD: Trading Plan for the U.S. Session on May 5th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1346 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened

Miroslaw Bawulski 17:48 2025-05-05 UTC+2

Trade Idea for EUR/USD to Fall

Good day, fellow traders! I will present you with a trade idea for EUR/USD. After Friday's strong bearish impulse, the instrument transitioned into a corrective upward move

Andrey Shevchenko 08:55 2025-05-05 UTC+2

Trade Idea for GBP/USD to Fall

Good day, fellow traders! I am presenting you with a trade idea for GBP/USD. After Friday's strong short-side initiative, the instrument has transitioned into a corrective upward movement

Andrey Shevchenko 08:55 2025-05-05 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 5: The Dollar's Convulsions Continue

On Friday, the GBP/USD currency pair corrected against Monday's growth and the broader uptrend. There were no clear reasons for the movements on any day of the week—Monday through Friday

Paolo Greco 06:07 2025-05-05 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 5: The Flat Trend Persists

The EUR/USD currency pair generally continued its downward movement throughout Friday. The U.S. dollar has strengthened over the past week, but this growth seems to lack solid justification. On Monday

Paolo Greco 06:06 2025-05-05 UTC+2

How to Trade the GBP/USD Pair on May 5? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded very erratically on Friday. The price rose in the first half of the day, although there were

Paolo Greco 04:15 2025-05-05 UTC+2

How to Trade the EUR/USD Pair on May 5? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD On Friday, the EUR/USD currency pair continued to trade within the sideways channel between 1.1275 and 1.1424. In principle, there is little

Paolo Greco 04:15 2025-05-05 UTC+2

GBP/USD: Trading Plan for the U.S. Session on May 2nd (Review of Morning Trades)

In my morning forecast, I focused on the 1.3313 level and planned to make trading decisions from there. Let's take a look at the 5-minute chart and break down what

Miroslaw Bawulski 12:14 2025-05-02 UTC+2

EUR/USD: Trading Plan for the U.S. Session on May 2nd (Review of the Morning Trades)

In my morning forecast, I highlighted the 1.1337 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart and analyze what happened there

Miroslaw Bawulski 12:06 2025-05-02 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.