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23.12.2024 05:13 AM
EUR/USD Forecast for December 23, 2024

On Friday, the euro completed its correction from the December 17-18 price decline. Assuming that the correction is incomplete, a move above 1.0461 would invalidate investors' plans regarding the Federal Reserve's monetary policy.

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The Marlin oscillator also signals the end of the correction, as it begins to turn downward without reaching the growth territory boundary. A gradual decline to the support level at 1.0250 appears logical. Considering the thinning market ahead of the Catholic holidays, strong orders may already be absent at the 1.0350 level.

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The four-hour chart shows the price's growth from the 1.0350 support occurred below the balance line (red moving average). The Marlin oscillator moved above the zero line, but this could be a false move, confirming a reversal toward a new low at 1.0250.

Laurie Bailey,
Analytical expert of InstaTrade
© 2007-2024
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