The euro opened the last trading week of 2021 in the upper half of the monthly range, before the resistance of the MACD line on the daily scale chart (1.1355). The price’s exit above this resistance will open the nearest target of 1.1415. This is possible even today because of the thin market – UK investors are resting, but if American players wanted to go above 1.14, they would have already done it under more favorable circumstances.
Now, if you use the thin market for strategic purposes, it is more convenient to strengthen the dollar. Or not to take any action, that is, to remain sideways until January, until the United States clarifies its geopolitical goals. Situationally, it turns out that it is more profitable to buy dollars. For this case, the 1.1170 target is always open.
According to the Marlin Oscillator, a reversal pattern remains, repeating the technical pattern of October-November 2021 – the signal line of the oscillator may return to the side range marked with a gray rectangle and go down from it.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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