EURUSD – Marking the limit area of the euro growth

19.12.2022

Daily: The euro remains in the correction phase after the bulls failed to break through the upper Bollinger envelope. With a high probability, the pair can now be expected at the midline (1.0493).

H4: Strong support was found at 1.0581 (Lower Bollinger Line). The resistance is the middle band (1.0632). Apparently, exactly from this resistance the bears will make a new attempt to attack.

H1: Intraday trading is ascending, but within the limits of correction. The major growth zone for the quotes seems to be 1.0632-1.0639 (confluence of the H1-upper and H4-middle Bollinger bands).

Conclusions: rise to 1.0632-1.0639, then the reversal down.

Recommendations: Buy to 1.0632-1.0639.  Sell from the zone 1.0632-1.0639.