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Today’s forecast for the EURUSD: EURUSD analysis 06.12.2021

The euro is testing a short-term uptrend’s key support at 1.1294 – 1.1286 again. As long as the zone remains unbroken, we should be looking for an opportunity to buy. So, we need a pattern to buy, and the price needs to settle above Friday’s high. If that’s the case, we will open long positions with a target at around 30 November’s high.

To sell the euro, we need a trend change. If the Intermediary Zone of 1.1294 – 1.1286 is broken, the trend will turn downwards. In this case, a selling target will be the lower Target zone of 1.1206 – 1.1189.

Trading plan for EURUSD for today:

  1. Buy according to the pattern from Intermediary Zone 1.1294 – 1.1286.
  2. TakeProfit: 1.1380.
  3. StopLoss: According to pattern rules.

  1. Sell once the price consolidates below 1.1278.
  2. TakeProfit: Target zone 1.1206 – 1.1189.
  3. StopLoss: 1.1300.

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