empty
 
 
id
Bantuan
Pembukaan akun instan
Platform Trading
Deposit/Penarikan

05.12.202319:04 Forex Analysis & Reviews: Technical Analysis of EUR/USD for December 5, 2023

EUR/USD Technical Analysis: Anticipating Key Market Moves

  • Ongoing Downtrend: EUR/USD sustains a bearish trend, breaching crucial support at 1.0825, with a new low at 1.0802, signaling continued downward pressure.
  • Critical Levels: Potential support at 1.0770 and a temporary halt in the H4 demand zone (1.0770 - 1.0746) indicate key levels to watch, despite oversold conditions.
  • Bullish Signall: A breakout above 1.0966 is crucial for a potential shift to a more bullish stance, with weekly pivot points and Fibonacci retracement levels providing significant markers.

Technical Market Overview:

The EUR/USD pair continues its downtrend, breaching the vital short-term support at 1.0825, marking a new local low at 1.0802 (at the time of this analysis). A breach below may drive the price to the next support at 1.0770, with a H4 demand zone between 1.0770 - 1.0746 expected to momentarily stall bearish pressures. Despite oversold conditions, negative momentum persists on the H4 chart, indicating current bearish dominance. A decisive breakout above 1.0966 is necessary for a shift to a more bullish outlook.

Exchange Rates 05.12.2023 analysis

EUR/USD Weekly Pivot Points:

Pivot Points, crucial in technical analysis, serve to identify potential trend reversals, support, and resistance levels.

  • WR3: 1.1179
  • WR2: 1.1098
  • WR1: 1.0991
  • Weekly Pivot: 1.0910
  • WS1: 1.0803
  • WS2: 1.0722
  • WS3: 1.0615

Trading Outlook:

A breakout above the 61% Fibonacci retracement (1.0963) of the recent weekly downtrend signals a potential long-term trend reversal favoring the Euro. A weekly close beyond this level serves as the initial signal for this shift.

EUR/USD Intraday Analysis:

- Out of 22 technical indicators, 16 display a Strong Sell signal, 6 are Neutral, and 1 indicates a Buy signal.

- All 18 moving averages present a Strong Sell signal.

EUR/USD Sentiment Scoreboard:

The overall sentiment leans bullish (62% bulls vs. 38% bears). Last week's sentiment also remained bullish (57% bulls vs. 43% bears), with the sentiment over the last three days aligning as bullish as well (52% bulls vs. 48% bears).

*My other articles are available in the section [https://www.instaspot.com/forex_analysis/?sorting=time&author=46]*

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Sebastian Seliga,
Analytical expert of InstaSpot
© 2007-2025
Manfaat dari rekomendasi para analis saat ini
Akun trading teratas
Buka akun trading

Tinjauan analitis InstaSpot akan membuat Anda menyadari sepenuhnya tren pasar! Sebagai klien InstaSpot, Anda dilengkapi dengan sejumlah besar layanan gratis untuk trading yang efisien.

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.