EU_chart 29.12

EUR/USD moves in the downtrend, but when we look at H1 chart we see a consolidation between horizontal support and resistance levels. Year coming to an end and the holiday season is not the most active market time. We should be careful and make our transactions only near really important zones.

Such place may be a resistance level – price rebounded from it strongly and earlier it acted as a support. During the last upward move (after rebounding from the support) we have observed two marubozu candles – they have very short wicks and show strong increases. They may indicate further corrective rally, so it is worth to wait for approaching the resistance zone and open short position that follows broader trend.

EU_screen 29.12

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