EURUSD - Regression Channel points 1.17

5 dic 2022

Hi Traders, Investors and Speculators 📈📉

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫

In today's analysis, here's a Forex update on the popular trading pair EURUSD. It's the last month of the year 2022; could we expect a Christmas rally?

📈 From a candlestick analysis , the Euro is looking to gain some ground against the Dollar with Three White Soldiers forming on the monthly chart.

📈 From a chart analysis / trend analysis , the regression trend that started in 2008 is still valid and the top of the regression parallel channel points towards 1.15 - 1.20

📈 From a technical indicator analysis, the RSI seems to be losing strength on it's way to the 50 mark and we'll need to see price action CLOSE over 1.08 to consider 1.15 resistance zone
Sideways trading immediate term seems likely


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