empty
12.12.2022 12:03 PM
Trading plan for EURUSD on December 12, 2022

This image is no longer relevant

Technical outlook:

EURUSD dropped through the 1.0505 intraday lows during the Asian session on Monday, before finding support. The single currency pair is seen to be trading close to 1.0560 at this point in writing as the bears prepare to drag further towards 1.0000 at least. The price has reached the resistance zone and the probability remains for a turn lower from here or the 1.0700-50 area.

EURUSD has either completed or is close to terminating its three-wave corrective rally, which had begun from 0.9535 earlier. Also, note that prices have managed to reach the Fibonacci 0.382 retracement of a downswing between 1.2266 and 0.9535. If the above holds well, prices might turn lower and drag below 0.9535 in the next several weeks.

Alternatively, if a major bottom is already in place at 0.9735, prices might find support from around 1.0000 levels and turn higher again. Either way, the currency pair is likely to decline by almost 500 pips before finding support again. Most traders might be preparing to take advantage of a pullback lower from here. Watch out for strong resistance around 1.0750 going forward.

Trading idea:

A potential bearish drop against 1.0700

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

How to Trade the GBP/USD Pair on April 11? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD Over the past 24 hours, the GBP/USD pair moved up by 170 pips. During the night into Friday, the pound sterling continued

Paolo Greco 06:04 2025-04-11 UTC+2

How to Trade the EUR/USD Pair on April 11? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD On Thursday, the EUR/USD currency pair resumed its upward movement and posted a gain of more than 300 pips. As Friday began

Paolo Greco 06:04 2025-04-11 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 11: Trump Raises Tariffs on China Again

The EUR/USD currency pair showed ultra-strong growth on Thursday—a move that, by now, probably surprised no one. Just as we reported that tariffs on China had been raised to 125%

Paolo Greco 03:28 2025-04-11 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 10th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.2871 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart and see what happened

Miroslaw Bawulski 20:11 2025-04-10 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 10th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.1019 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart to understand what

Miroslaw Bawulski 20:08 2025-04-10 UTC+2

How to Trade the GBP/USD Pair on April 10? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair spent the past 24 hours rising, then falling again, and then rising again. As before, it's impossible to identify

Paolo Greco 06:49 2025-04-10 UTC+2

How to Trade the EUR/USD Pair on April 10? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD The EUR/USD currency pair showed strong growth and decline on Wednesday. Lately, both moves have been triggered by Donald Trump. First, news

Paolo Greco 06:49 2025-04-10 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 10: Who Cares About U.S. Inflation Right Now?

On Wednesday, the GBP/USD currency pair showed mixed movements throughout the day but generally maintained a downward trend — if we can even call the current behavior a "trend." There

Paolo Greco 03:21 2025-04-10 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 10: 500% Tariffs for China!

On Wednesday, the EUR/USD currency pair moved exactly as expected — in several aspects. First, let's start with the "triangle" pattern we discussed yesterday. We warned that such formations often

Paolo Greco 03:21 2025-04-10 UTC+2

How to Trade the GBP/USD Pair on April 9? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair traded with a slight upward bias. There were no major news events throughout the day, and only

Paolo Greco 06:47 2025-04-09 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.