EUR/USD trading talks December 19
Euro Dollar continues to move according to the trend, and the scenario of breaking through the 1.0600 level and exiting the triangular correction was justified. The upside move in the current trend continues despite an extended divergence from the MACD on the 4-hour chart. There is also a clear divergence on the daily MACD, which means a possible trend reversal.
After reaching the level of 1.07360, the maximum since June of this year, the price started to move within a new triangular correction, in which the level of 1.0600 is a support area. The formation of this correction will probably be associated with a short-term decline to 1.05800 ЕМА 200 hourly and in case of breaking through this level, the next key support level will be the area of support for the trend and four-hour ЕМА 100 at the level of 1.05200. This will become a marker indicator for a further fall and breaking of the current trend with possible targets at 1.04450 and the four-hour EMA 200 area at 1.03700.
For further growth, within the trend, the price must pass through 1.06150 EMA 100 hours and a key level of 1.06500 for growth to 1.06930 and above.