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Indicator analysis: Daily review of EUR/USD for December 22, 2021

Trend analysis (Fig. 1).

The market may move down on Wednesday from the level of 1.1286 (closing of Tuesday's daily candle) with the target at 1.1241, the 85.4% retracement level (red dotted line). After testing this level, the price may move upward with the target at 1.1305, the 21-day EMA (black thin line).

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Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

The price may move down from the level of 1.1286 (closing of Tuesday's daily candle) with the target at 1.1241, the 85.4% retracement level (red dotted line). After testing this level, the price may move upward with the target at 1.1305, the 21-day EMA (black thin line).

Unlikely scenario: from the level of 1.1286 (closing of Tuesday's daily candle), the price may start moving down to the lower fractal at 1.1222 (red dotted line). Testing this line may begin the upward movement.

The material has been provided by InstaForex Company - www.instaforex.com

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